Lifeworks Advisors LLC Purchases 160 Shares of Elevance Health, Inc. (NYSE:ELV)

Lifeworks Advisors LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 15.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,197 shares of the company’s stock after acquiring an additional 160 shares during the period. Lifeworks Advisors LLC’s holdings in Elevance Health were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC raised its holdings in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares in the last quarter. Czech National Bank grew its position in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares in the last quarter. Diversified Trust Co lifted its position in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after acquiring an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its stake in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after acquiring an additional 8,038 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ELV. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Up 1.7 %

ELV stock opened at $409.59 on Friday. The business’s 50-day moving average is $390.64 and its two-hundred day moving average is $434.13. The company has a market cap of $93.12 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. 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 posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% 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.