Highland Capital Management LLC Buys 120 Shares of Elevance Health, Inc. (NYSE:ELV)

Highland Capital Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,584 shares of the company’s stock after acquiring an additional 120 shares during the quarter. Highland Capital Management LLC’s holdings in Elevance Health were worth $8,763,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ELV. Alliance Wealth Advisors LLC lifted its position in shares of Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares during the last quarter. ProVise Management Group LLC lifted its position in shares of Elevance Health by 0.6% during the 2nd quarter. ProVise Management Group LLC now owns 3,856 shares of the company’s stock worth $1,713,000 after purchasing an additional 22 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the last quarter. Financial Counselors Inc. lifted its position in shares of Elevance Health by 1.0% during the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after purchasing an additional 22 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Elevance Health by 8.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ELV shares. Barclays started coverage on Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target for the company. Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald upped their price target 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 cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $569.36.

Elevance Health Trading Up 0.5 %

Shares of ELV opened at $519.90 on Thursday. The stock has a market cap of $120.98 billion, a PE ratio of 20.66, a PEG ratio of 1.14 and a beta of 0.78. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18. The stock has a 50 day simple moving average of $500.26 and a 200-day simple moving average of $475.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.23 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the 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 transaction, the director now directly 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 can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

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.