Inkwell Capital LLC Purchases Shares of 3,240 Elevance Health, Inc. (NYSE:ELV)

Inkwell Capital LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,240 shares of the company’s stock, valued at approximately $1,195,000. Elevance Health comprises about 1.3% of Inkwell Capital LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the 4th quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at about $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company cut 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 report on Tuesday, January 28th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Monday, March 17th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Down 0.0 %

Shares of NYSE:ELV opened at $431.84 on Friday. The company has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a fifty day moving average price of $404.45 and a two-hundred day moving average price of $421.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.