Sage Mountain Advisors LLC Raises Holdings in Elevance Health, Inc. (NYSE:ELV)

Sage Mountain Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,055 shares of the company’s stock after buying an additional 113 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Elevance Health were worth $497,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ELV. International Assets Investment Management LLC grew 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 purchasing an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. grew 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 purchasing an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew 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 purchasing an additional 234,439 shares during the last quarter. Schroder Investment Management Group grew 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 purchasing an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew 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 purchasing an additional 182,889 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday. UBS Group boosted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Truist Financial reissued a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $587.64.

Elevance Health Trading Up 0.1 %

Shares of Elevance Health stock opened at $532.17 on Tuesday. The firm has a 50-day simple moving average of $509.68 and a two-hundred day simple moving average of $484.51. The company has a market cap of $123.69 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.16 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. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.46 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In other 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 completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Elevance Health

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.