ProVise Management Group LLC Purchases 2,195 Shares of Elevance Health, Inc. (NYSE:ELV)

ProVise Management Group LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,964 shares of the company’s stock after purchasing an additional 2,195 shares during the quarter. ProVise Management Group LLC’s holdings in Elevance Health were worth $8,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the fourth quarter worth about $31,000. Hexagon Capital Partners LLC lifted its holdings in shares of 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 last quarter. ORG Partners LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $40,000. Private Wealth Management Group LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $41,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health in the third quarter valued at approximately $46,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 4.1 %

NYSE:ELV traded down $22.53 during trading hours on Friday, hitting $521.41. 1,533,614 shares of the company traded hands, compared to its average volume of 1,013,796. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The company has a market cap of $121.19 billion, a PE ratio of 20.41, a PEG ratio of 1.21 and a beta of 0.79. The firm’s 50-day simple moving average is $523.51 and its 200-day simple moving average is $497.36. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the firm posted $9.46 EPS. The business’s revenue was up .9% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho upped their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. 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 report on Friday, April 19th. StockNews.com raised shares of Elevance Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $587.42.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

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.