Beverly Hills Private Wealth LLC Acquires 2,459 Shares of Elevance Health, Inc. (NYSE:ELV)

Beverly Hills Private Wealth LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,797 shares of the company’s stock after purchasing an additional 2,459 shares during the period. Elevance Health comprises 0.9% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 23rd biggest position. Beverly Hills Private Wealth LLC’s holdings in Elevance Health were worth $4,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. Mutual Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank boosted its stake in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after acquiring an additional 3,049 shares in the last quarter. Diversified Trust Co increased its position in shares of Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after purchasing an additional 2,725 shares in the last quarter. JB Capital LLC boosted its position in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after purchasing an additional 8,038 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s 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 sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Barclays increased their price target on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Truist Financial lifted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $510.38.

Elevance Health Trading Up 0.3 %

ELV stock opened at $409.73 on Friday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $92.57 billion, a P/E ratio of 16.00, a PEG ratio of 1.18 and a beta of 0.66. The company’s 50-day simple moving average is $422.21 and its 200-day simple moving average is $404.98.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio is presently 26.69%.

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.