Barlow Wealth Partners Inc. Invests $1.03 Million in Elevance Health, Inc. (NYSE:ELV)

Barlow Wealth Partners Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,177 shares of the company’s stock, valued at approximately $1,027,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in Elevance Health during the 3rd quarter worth $25,000. Alaska Permanent Fund Corp bought a new position in shares of Elevance Health during the fourth quarter worth about $31,000. Hexagon Capital Partners LLC lifted its stake in shares of Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after acquiring an additional 29 shares during the period. ORG Partners LLC bought a new position in Elevance Health during the 4th quarter worth approximately $40,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $46,000. 89.24% of the stock is owned by institutional investors.

Insider Activity

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction 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 owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV stock traded down $2.82 during trading on Wednesday, reaching $533.35. 778,951 shares of the company’s stock traded hands, compared to its average volume of 1,042,833. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a market capitalization of $123.96 billion, a P/E ratio of 20.18, a PEG ratio of 1.16 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $514.57 and its 200 day moving average is $490.26.

Elevance Health (NYSE:ELV) last posted its earnings results 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. 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 firm posted $9.46 EPS. Elevance Health’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given 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 1.22%. Elevance Health’s payout ratio is 24.64%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Mizuho boosted their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

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.