Elevance Health, Inc. (NYSE:ELV) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,542 shares of the company’s stock after acquiring an additional 106 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Elevance Health were worth $727,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Up 1.1 %

ELV stock opened at $539.70 on Friday. The stock has a market capitalization of $125.44 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a 50-day moving average of $511.40 and a two-hundred day moving average of $485.81. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the business posted $9.46 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

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

Insider Activity at Elevance Health

In other Elevance Health 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 completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.