Claro Advisors LLC Buys New Position in Elevance Health, Inc. (NYSE:ELV)

Claro Advisors LLC purchased a new position in Elevance Health, Inc. (NYSE:ELVFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 472 shares of the company’s stock, valued at approximately $223,000.

Several other large investors also recently bought and sold shares of the company. Forum Private Client Group LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth about $205,000. Pinnacle Associates Ltd. increased its holdings in Elevance Health by 2.8% during the 4th quarter. Pinnacle Associates Ltd. now owns 3,228 shares of the company’s stock worth $1,522,000 after purchasing an additional 89 shares during the last quarter. Quent Capital LLC raised its position in shares of Elevance Health by 8.9% in the 4th quarter. Quent Capital LLC now owns 1,428 shares of the company’s stock valued at $673,000 after purchasing an additional 117 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Elevance Health by 3,888.6% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 18,587 shares of the company’s stock valued at $8,765,000 after buying an additional 18,121 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in shares of Elevance Health by 59.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,013 shares of the company’s stock worth $1,421,000 after buying an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV opened at $499.22 on Wednesday. The firm has a fifty day moving average of $504.08 and a 200-day moving average of $477.50. The company has a market cap of $116.17 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18.

Elevance Health (NYSE:ELVGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The firm had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period in the previous year, the business posted $5.23 EPS. Elevance Health’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.63 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays assumed coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. Cantor Fitzgerald boosted their price objective on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $569.36.

Check Out Our Latest Research Report on ELV

Elevance Health Company Profile

(Free Report)

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.

Read More

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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