Legacy Financial Advisors Inc. Buys 423 Shares of Elevance Health, Inc. (NYSE:ELV)

Legacy Financial Advisors Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 39.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,496 shares of the company’s stock after purchasing an additional 423 shares during the period. Legacy Financial Advisors Inc.’s holdings in Elevance Health were worth $705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. abrdn plc boosted its stake in shares of Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC lifted its stake in shares of Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after acquiring an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Elevance Health during the 4th quarter valued at $218,000. Chicago Capital LLC grew its position in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Elevance Health in the fourth quarter worth $2,235,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Mizuho raised their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. UBS Group raised their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada upped their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $587.42.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which is available through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 0.3 %

Shares of ELV stock traded up $1.35 during trading hours on Friday, reaching $526.96. 819,445 shares of the company’s stock were exchanged, compared to its average volume of 1,136,492. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $122.48 billion, a PE ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. The stock’s fifty day moving average price is $513.54 and its two-hundred day moving average price is $488.91.

Elevance Health (NYSE:ELV) last posted 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 business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $9.46 earnings per share. Research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health Company 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.