Elevance Health, Inc. (NYSE:ELV) Stake Increased by Park Place Capital Corp

Park Place Capital Corp increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1,825.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462 shares of the company’s stock after buying an additional 438 shares during the quarter. Park Place Capital Corp’s holdings in Elevance Health were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Richwood Investment Advisors LLC increased its holdings in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc lifted its position in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after buying an additional 20 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake 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 valued at $351,000 after buying an additional 21 shares during the period. Fiduciary Alliance LLC grew its holdings in shares of Elevance Health by 3.6% during the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after acquiring an additional 21 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Elevance Health by 8.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after acquiring an additional 22 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $7.11 during trading on Monday, reaching $534.75. The company’s stock had a trading volume of 678,593 shares, compared to its average volume of 1,026,418. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $124.29 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. The business’s fifty day moving average price is $534.36 and its 200-day moving average price is $508.99.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date was Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ELV shares. Barclays lifted their price objective on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial restated a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $611.36.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

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.