Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Twin City Private Wealth LLC

Twin City Private Wealth LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,141 shares of the company’s stock after purchasing an additional 609 shares during the quarter. Elevance Health accounts for about 1.4% of Twin City Private Wealth LLC’s holdings, making the stock its 29th biggest holding. Twin City Private Wealth LLC’s holdings in Elevance Health were worth $1,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELV. Mutual Advisors LLC raised its position in Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after buying an additional 52 shares during the last quarter. Czech National Bank raised its position in Elevance Health by 6.5% during 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 last quarter. Benjamin Edwards Inc. raised its position in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co raised 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 worth $8,328,000 after buying an additional 2,725 shares during the last quarter. Finally, JB Capital LLC raised its position in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after buying an additional 8,038 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

Elevance Health stock opened at $427.27 on Monday. The company’s fifty day moving average price is $400.52 and its 200 day moving average price is $424.46. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a market capitalization of $97.14 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.18 and a beta of 0.86. 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 released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm 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 represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $519.81.

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.