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

Lifeworks Advisors LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,197 shares of the company’s stock after buying an additional 160 shares during the quarter. Lifeworks Advisors LLC’s holdings in Elevance Health were worth $442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Tobam raised its holdings in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC grew its holdings in shares of Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares in the last quarter. Finally, Quent Capital LLC increased its position in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $409.59 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market cap of $93.12 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86. The business’s fifty day simple moving average is $390.64 and its two-hundred day simple moving average is $434.13. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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 net margin of 3.38% and a return on equity of 18.28%. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 research report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by company 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.