Cape Investment Advisory Inc. Buys 56 Shares of Elevance Health, Inc. (NYSE:ELV)

Cape Investment Advisory Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,821 shares of the company’s stock after buying an additional 56 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Elevance Health were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Sanders Capital LLC raised its stake in shares of Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after buying an additional 58,013 shares during the period. Baillie Gifford & Co. raised its stake in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after buying an additional 27,986 shares during the period. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter worth about $1,347,434,000. Morgan Stanley raised its stake in shares of Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after buying an additional 46,322 shares during the period. Finally, Northern Trust Corp raised its stake in Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after purchasing an additional 57,098 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’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 approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 4.1 %

Shares of Elevance Health stock traded down $22.53 on Friday, reaching $521.41. The company had a trading volume of 1,533,777 shares, compared to its average volume of 785,444. The firm has a market cap of $121.19 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.15 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50-day moving average price is $523.69 and its two-hundred day moving average price is $498.11. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during 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 company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.46 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 37.26 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 issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent analyst reports. StockNews.com raised Elevance Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 20th. UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Truist Financial reissued a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Mizuho lifted 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. Finally, Royal Bank of Canada lifted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.