Trust Investment Advisors Purchases New Shares in Elevance Health, Inc. (NYSE:ELV)

Trust Investment Advisors purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 452 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in Elevance Health during the fourth quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Elevance Health during the third quarter valued at $30,000. TD Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at $30,000. Finally, Tyler Stone Wealth Management bought a new position in Elevance Health during the second quarter valued at $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity 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 completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Up 3.2 %

Shares of ELV stock traded up $16.22 during mid-day trading on Thursday, hitting $525.19. 2,594,748 shares of the stock traded hands, compared to its average volume of 1,053,873. The stock has a market cap of $122.21 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day moving average is $508.17 and its two-hundred day moving average is $482.29. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $5.23 EPS. Equities analysts predict that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ELV shares. Barclays started coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company cut their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $569.00.

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.