Syon Capital LLC Buys 761 Shares of Elevance Health, Inc. (NYSE:ELV)

Syon Capital LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,219 shares of the company’s stock after buying an additional 761 shares during the quarter. Syon Capital LLC’s holdings in Elevance Health were worth $1,518,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ELV. abrdn plc lifted its stake in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after acquiring an additional 129,364 shares in the last quarter. Cerity Partners LLC grew its holdings in Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Elevance Health during the fourth quarter worth about $218,000. Chicago Capital LLC lifted its position in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Elevance Health in the 4th quarter worth approximately $2,235,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Up 1.1 %

NYSE:ELV traded up $5.95 during mid-day trading on Thursday, hitting $539.68. 1,066,651 shares of the company’s stock traded hands, compared to its average volume of 1,064,396. The company has a fifty day moving average of $510.78 and a 200 day moving average of $485.44. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a market capitalization of $125.43 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $9.46 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

A number of brokerages recently commented on ELV. Royal Bank of Canada upped their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Mizuho raised their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

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.