Elevance Health, Inc. (NYSE:ELV) Shares Bought by SageView Advisory Group LLC

SageView Advisory Group LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 669 shares of the company’s stock after purchasing an additional 101 shares during the period. SageView Advisory Group LLC’s holdings in Elevance Health were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $34,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Robert W. Baird restated a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $514.41.

Elevance Health Trading Down 0.8 %

NYSE ELV opened at $437.83 on Wednesday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a 50 day simple moving average of $414.67 and a 200-day simple moving average of $412.17. The firm has a market cap of $99.12 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.56%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

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.