431 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Bigelow Investment Advisors LLC

Bigelow Investment Advisors LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 431 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELV. Norges Bank acquired a new position in Elevance Health in the 4th quarter worth approximately $1,253,211,000. Legal & General Group Plc acquired a new position in Elevance Health in the 4th quarter worth approximately $944,528,000. Moneta Group Investment Advisors LLC acquired a new position in Elevance Health in the 4th quarter worth approximately $664,077,000. Arrowstreet Capital Limited Partnership increased its holdings in Elevance Health by 825.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock worth $372,715,000 after buying an additional 676,769 shares during the period. Finally, Barclays PLC grew its stake in shares of Elevance Health by 52.9% during the 2nd quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock worth $561,318,000 after purchasing an additional 437,225 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’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 transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Trading Up 1.2 %

Shares of ELV stock opened at $531.42 on Friday. The stock’s fifty day moving average is $509.14 and its two-hundred day moving average is $483.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.44 and a current ratio of 1.37. The firm has a market capitalization of $123.66 billion, a P/E ratio of 20.09, a PEG ratio of 1.15 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $9.46 EPS. Research analysts expect that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ELV shares. Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Barclays raised their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.77.

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.