Community Bank N.A. Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Community Bank N.A. raised its position in Elevance Health, Inc. (NYSE:ELV) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,004 shares of the company’s stock after acquiring an additional 566 shares during the quarter. Community Bank N.A.’s holdings in Elevance Health were worth $2,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health during the 4th quarter valued at about $31,000. ORG Partners LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at about $40,000. Orion Capital Management LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $46,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Royal Bank of Canada lifted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Mizuho lifted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Stock Up 0.2 %

Elevance Health stock traded up $0.87 during trading hours on Wednesday, hitting $533.79. The stock had a trading volume of 895,401 shares, compared to its average volume of 1,064,366. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $124.06 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The stock’s 50-day moving average price is $510.78 and its 200-day moving average price is $485.44.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the previous year, the company earned $9.46 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business 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 dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s payout ratio is 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.