Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 41.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,157 shares of the company’s stock after acquiring an additional 634 shares during the quarter. Farther Finance Advisors LLC’s holdings in Elevance Health were worth $796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $26,000. Dunhill Financial LLC boosted its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the fourth quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. Finally, Crews Bank & Trust acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on 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 sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELV. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Up 1.1 %

Shares of NYSE ELV opened at $421.72 on Friday. The business has a 50-day moving average of $395.45 and a two-hundred day moving average of $429.65. The company has a market capitalization of $95.88 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.62%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.