Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 989 shares of the company’s stock after purchasing an additional 192 shares during the period. Signal Advisors Wealth LLC’s holdings in Elevance Health were worth $430,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the fourth quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the 4th quarter valued at approximately $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $393.70 on Friday. 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’s 50-day moving average price is $409.50 and its two-hundred day moving average price is $400.82. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The stock has a market capitalization of $88.95 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.18 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Barclays cut their target price on Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research report on Monday, June 2nd. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $499.53.

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.