KLCM Advisors Inc. Takes $260,000 Position in Elevance Health, Inc. (NYSE:ELV)

KLCM Advisors Inc. purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 551 shares of the company’s stock, valued at approximately $260,000.

A number of other large investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in Elevance Health in the third quarter valued at approximately $25,000. Fortis Capital Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Elevance Health in the third quarter valued at approximately $30,000. TD Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $30,000. Finally, Tyler Stone Wealth Management acquired a new position in Elevance Health in the second quarter valued at approximately $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Barclays assumed coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $569.00.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $508.97 on Thursday. The firm has a market capitalization of $118.44 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. The business’s fifty day moving average price is $508.17 and its 200 day moving average price is $482.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $521.18.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is 25.90%.

Elevance Health Company 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.