Claro Advisors LLC Invests $223,000 in Elevance Health, Inc. (NYSE:ELV)

Claro Advisors LLC bought a new stake in Elevance Health, Inc. (NYSE:ELVFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 472 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds also recently made changes to their positions in ELV. Fortis Capital Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter worth $29,000. TD Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth approximately $30,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the 3rd quarter valued at approximately $25,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Elevance Health in the 3rd quarter worth about $30,000. Finally, Tyler Stone Wealth Management acquired a new position in Elevance Health in the second quarter valued at approximately $39,000. 89.24% of the stock is owned by institutional investors.

Insider Activity

In related 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 transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 3.3 %

NYSE:ELV opened at $499.22 on Wednesday. The firm has a market capitalization of $116.17 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.16 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $504.08 and a 200 day moving average of $477.50. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week 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 the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.23 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

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

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Barclays began coverage on Elevance Health in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price for the company. Cantor Fitzgerald upped their target price on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada raised their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $569.36.

Get Our Latest Stock Analysis on ELV

Elevance Health 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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