Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,036 shares of the company’s stock after buying an additional 24 shares during the period. Capital Investment Advisory Services LLC’s holdings in Elevance Health were worth $489,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ELV. International Assets Investment Management LLC boosted its holdings in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after acquiring an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Elevance Health by 212.7% in the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after acquiring an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Elevance Health by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after acquiring an additional 234,439 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Elevance Health by 18.2% in the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after acquiring an additional 204,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Elevance Health by 59.3% in the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after acquiring an additional 182,889 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the 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 approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $532.17 on Tuesday. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11. The business’s fifty day simple moving average is $509.68 and its 200-day simple moving average is $484.51. The firm has a market cap of $123.69 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the company posted $9.46 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Truist Financial reissued a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday. Barclays lifted their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group upped their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $587.64.

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.