Signature Estate & Investment Advisors LLC Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Signature Estate & Investment Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,331 shares of the company’s stock after buying an additional 116 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Elevance Health were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health in the third quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter valued at about $26,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was 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 owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ELV shares. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday, March 17th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Down 1.0 %

ELV opened at $423.03 on Wednesday. The company has a market cap of $96.18 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The business’s 50-day moving average price is $401.73 and its 200-day moving average price is $422.80. 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 (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate 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, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced 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. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

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.