MONECO Advisors LLC Takes $281,000 Position in Elevance Health, Inc. (NYSE:ELV)

MONECO Advisors LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 595 shares of the company’s stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Cambridge Investment Research Advisors Inc. increased its holdings in Elevance Health by 10.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,428 shares of the company’s stock valued at $10,637,000 after buying an additional 2,270 shares during the period. Raymond James & Associates increased its stake in Elevance Health by 37.0% in the third quarter. Raymond James & Associates now owns 243,563 shares of the company’s stock valued at $106,052,000 after acquiring an additional 65,719 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Elevance Health by 22.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 69,871 shares of the company’s stock worth $30,423,000 after purchasing an additional 12,967 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Elevance Health by 141.1% during the third quarter. Stratos Wealth Partners LTD. now owns 10,897 shares of the company’s stock worth $4,745,000 after purchasing an additional 6,378 shares during the period. Finally, NorthRock Partners LLC boosted its holdings in Elevance Health by 24.2% during the third quarter. NorthRock Partners LLC now owns 1,006 shares of the company’s stock valued at $438,000 after purchasing an additional 196 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value 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 approximately $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Down 0.7 %

Shares of NYSE ELV opened at $524.84 on Thursday. The company has a 50 day simple moving average of $513.01 and a 200 day simple moving average of $488.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The firm has a market cap of $121.98 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the previous year, the company posted $9.46 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm 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. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of analyst reports. Jefferies Financial Group upped their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, UBS Group lifted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

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.