Silver Oak Securities Incorporated Grows Stake in Elevance Health, Inc. (NYSE:ELV)

Silver Oak Securities Incorporated lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 629.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,474 shares of the company’s stock after buying an additional 1,272 shares during the period. Silver Oak Securities Incorporated’s holdings in Elevance Health were worth $695,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alliance Wealth Advisors LLC grew its position in Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares in the last quarter. Clearstead Advisors LLC grew its holdings in Elevance Health by 0.9% during the 3rd 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 in the last quarter. Financial Counselors Inc. increased its stake in Elevance Health by 1.0% during the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Mizuho increased their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Barclays upped their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group boosted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Performance

Shares of ELV stock opened at $533.89 on Tuesday. The company has a market cap of $124.09 billion, a P/E ratio of 20.18, a PEG ratio of 1.19 and a beta of 0.78. The business has a 50 day moving average of $512.32 and a two-hundred day moving average of $487.42. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. 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 posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) 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 analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $9.46 earnings per share. As a group, analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.