OLD National Bancorp IN Purchases 236 Shares of Elevance Health, Inc. (NYSE:ELV)

OLD National Bancorp IN lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% during the 1st quarter, HoldingsChannel reports. The firm owned 4,328 shares of the company’s stock after acquiring an additional 236 shares during the period. OLD National Bancorp IN’s holdings in Elevance Health were worth $1,883,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELV. Accredited Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the fourth quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health during the fourth quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Up 2.4%

Elevance Health stock opened at $393.70 on Monday. The stock has a market cap of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The stock has a fifty day moving average of $409.50 and a 200 day moving average of $400.80.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The company 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, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors 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 1.74%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Guggenheim reiterated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho boosted their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Truist Financial boosted their price target on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $499.53.

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.