Fortem Financial Group LLC Purchases 44 Shares of Elevance Health, Inc. (NYSE:ELV)

Fortem Financial Group LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,355 shares of the company’s stock after acquiring an additional 44 shares during the period. Fortem Financial Group LLC’s holdings in Elevance Health were worth $869,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raelipskie Partnership purchased a new position in Elevance Health during the 3rd quarter valued at $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the 3rd quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

ELV stock traded up $6.41 during midday trading on Monday, reaching $377.97. 1,079,142 shares of the company’s stock traded hands, compared to its average volume of 1,166,610. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market cap of $87.66 billion, a P/E ratio of 13.78, a PEG ratio of 1.15 and a beta of 0.84. The stock’s 50-day moving average is $394.43 and its 200 day moving average is $476.77.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $8.99 earnings per share. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.73%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $536.53.

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.