Quotient Wealth Partners LLC Invests $253,000 in Elevance Health, Inc. (NYSE:ELV)

Quotient Wealth Partners LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 537 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Elevance Health during the third quarter worth about $25,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health in the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC grew its position in 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 acquired a new stake in Elevance Health during the fourth quarter worth $40,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health in the third quarter valued at $46,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of NYSE:ELV traded up $5.69 on Wednesday, hitting $540.32. 175,396 shares of the company’s stock were exchanged, compared to its average volume of 1,021,750. 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, Inc. has a 1-year low of $412.00 and a 1-year high of $543.13. The company has a market capitalization of $125.58 billion, a PE ratio of 20.41, a P/E/G ratio of 1.19 and a beta of 0.79. The firm’s 50-day moving average is $518.12 and its 200 day moving average is $493.35.

Elevance Health (NYSE:ELVGet Free Report) last posted its 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 net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the firm posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group boosted their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Mizuho boosted their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Get Our Latest Report on ELV

Insiders Place Their Bets

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on 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 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 hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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