Elevance Health, Inc. (NYSE:ELV) Shares Purchased by HF Advisory Group LLC

HF Advisory Group LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 29.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,962 shares of the company’s stock after purchasing an additional 665 shares during the quarter. HF Advisory Group LLC’s holdings in Elevance Health were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Alliance Wealth Advisors LLC grew its holdings in Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after buying an additional 21 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after purchasing an additional 22 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after purchasing an additional 22 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its stake in shares of Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after purchasing an additional 22 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 5.2 %

Shares of NYSE:ELV traded up $26.27 during midday trading on Thursday, reaching $535.24. The company had a trading volume of 696,593 shares, compared to its average volume of 1,026,389. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $537.66. The firm has a market cap of $124.55 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. The company has a fifty day simple moving average of $508.17 and a two-hundred day simple moving average of $482.29.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.23 EPS. Research analysts predict that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.63 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio is currently 25.90%.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. Barclays initiated coverage on Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price objective on the stock. Wells Fargo & Company reduced their price target on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Royal Bank of Canada boosted their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $569.00.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

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.