Roberts Glore & Co. Inc. IL Purchases 1,540 Shares of Elevance Health, Inc. (NYSE:ELV)

Roberts Glore & Co. Inc. IL increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 229.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,212 shares of the company's stock after buying an additional 1,540 shares during the quarter. Roberts Glore & Co. Inc. IL's holdings in Elevance Health were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Principal Financial Group Inc. raised its holdings in Elevance Health by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,649 shares of the company's stock worth $141,777,000 after purchasing an additional 11,646 shares in the last quarter. Consolidated Planning Corp bought a new position in Elevance Health in the third quarter worth about $444,000. TFB Advisors LLC lifted its holdings in Elevance Health by 23.6% in the third quarter. TFB Advisors LLC now owns 540 shares of the company's stock worth $281,000 after buying an additional 103 shares during the period. Leavell Investment Management Inc. boosted its position in Elevance Health by 3.4% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company's stock valued at $3,206,000 after acquiring an additional 200 shares in the last quarter. Finally, Equitable Trust Co. grew its holdings in shares of Elevance Health by 159.6% during the 3rd quarter. Equitable Trust Co. now owns 1,760 shares of the company's stock worth $915,000 after acquiring an additional 1,082 shares during the period. 89.24% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ELV. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday, March 1st. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $517.03.

Elevance Health Stock Performance

NYSE:ELV traded down $8.52 during mid-day trading on Wednesday, hitting $413.52. 682,234 shares of the company traded hands, compared to its average volume of 1,628,762. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $392.54 and its 200-day moving average price is $431.56. The firm has a market cap of $94.02 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.65%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.