HF Advisory Group LLC Acquires 665 Shares of Elevance Health, Inc. (NYSE:ELV)

HF Advisory Group LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 29.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,962 shares of the company’s stock after buying an additional 665 shares during the period. HF Advisory Group LLC’s holdings in Elevance Health were worth $1,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Fortis Capital Advisors LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. TD Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the third quarter worth approximately $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Elevance Health during the third quarter worth approximately $30,000. Finally, ORG Partners LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $40,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Trading Up 5.2 %

NYSE:ELV traded up $26.27 during trading hours on Thursday, hitting $535.24. 696,593 shares of the company were exchanged, compared to its average volume of 1,026,389. The stock has a market capitalization of $124.55 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $537.66. The company has a fifty day simple moving average of $508.17 and a 200 day simple moving average of $482.29.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $5.23 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELV. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Royal Bank of Canada raised their target price on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays began coverage on Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

About Elevance Health

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.