Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Family Legacy Inc.

Family Legacy Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,831 shares of the company’s stock after acquiring an additional 232 shares during the period. Family Legacy Inc.’s holdings in Elevance Health were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its stake in shares of Elevance Health by 3.8% in the third quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock worth $436,000 after purchasing an additional 31 shares during the last quarter. Public Sector Pension Investment Board raised its position in Elevance Health by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company’s stock worth $5,217,000 after buying an additional 1,100 shares during the last quarter. Captrust Financial Advisors lifted its stake in Elevance Health by 0.7% during the 3rd quarter. Captrust Financial Advisors now owns 38,974 shares of the company’s stock valued at $20,267,000 after acquiring an additional 286 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Elevance Health in the 3rd quarter valued at $532,000. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Elevance Health by 5.5% in the third quarter. Semmax Financial Advisors Inc. now owns 7,441 shares of the company’s stock worth $3,869,000 after acquiring an additional 388 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $431.84 on Monday. The firm has a market capitalization of $98.18 billion, a PE ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm’s 50-day moving average price is $404.45 and its 200 day moving average price is $420.42.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

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.