461 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 461 shares of the company’s stock, valued at approximately $217,000.

Several other large investors have also recently made changes to their positions in ELV. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the third quarter worth approximately $25,000. ORG Partners LLC acquired a new position in Elevance Health during the 4th quarter worth about $40,000. Orion Capital Management LLC acquired a new position in Elevance Health during the 3rd quarter worth about $46,000. Milestone Investment Advisors LLC acquired a new position in Elevance Health during the 3rd quarter worth about $51,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Elevance Health during the 4th quarter worth about $56,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.4 %

ELV opened at $535.00 on Wednesday. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $539.11. The company has a market cap of $124.34 billion, a P/E ratio of 20.14, a PEG ratio of 1.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50-day simple moving average is $510.23 and its 200-day simple moving average is $485.10.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $9.46 EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.24 EPS 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. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Analysts Set New Price Targets

Several research firms recently issued reports on ELV. 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. UBS Group increased their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Elevance Health 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.