Elevance Health, Inc. (NYSE:ELV) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 424,043 shares of the company’s stock after buying an additional 24,785 shares during the quarter. Brown Advisory Inc. owned 0.18% of Elevance Health worth $156,430,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ELV. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the fourth quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial upped their target price on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays upped their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $510.38.

Elevance Health Trading Up 0.3 %

Shares of Elevance Health stock opened at $409.73 on Friday. The stock has a 50 day moving average of $422.21 and a 200 day moving average of $404.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market capitalization of $92.57 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid 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 (DPR) is 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.