Investors Research Corp Has $129,000 Position in Elevance Health, Inc. (NYSE:ELV)

Investors Research Corp increased its position in Elevance Health, Inc. (NYSE:ELV) by 16.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274 shares of the company’s stock after buying an additional 39 shares during the period. Investors Research Corp’s holdings in Elevance Health were worth $129,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its holdings in Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after buying an additional 21 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after purchasing an additional 22 shares during the last quarter. Financial Counselors Inc. grew its holdings in Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after purchasing an additional 22 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after purchasing an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Barclays began coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $569.00.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Up 1.4 %

Shares of Elevance Health stock opened at $507.02 on Wednesday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18. The firm has a market capitalization of $117.98 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $507.94 and its two-hundred day moving average price is $482.10.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating the consensus estimate of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same period in the previous year, the business earned $5.23 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Elevance Health’s dividend payout ratio is presently 25.90%.

Elevance Health Profile

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.