Keel Point LLC Purchases 34 Shares of Elevance Health, Inc. (NYSE:ELV)

Keel Point LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 966 shares of the company’s stock after purchasing an additional 34 shares during the period. Keel Point LLC’s holdings in Elevance Health were worth $456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ELV. Roundview Capital LLC raised its stake in shares of Elevance Health by 2.9% during the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock valued at $912,000 after acquiring an additional 52 shares during the last quarter. Moors & Cabot Inc. bought a new position in shares of Elevance Health during the first quarter valued at $251,000. Baird Financial Group Inc. raised its stake in shares of Elevance Health by 0.4% during the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after acquiring an additional 57 shares during the last quarter. Zions Bancorporation N.A. raised its stake in shares of Elevance Health by 52.1% during the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after acquiring an additional 306 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Elevance Health by 102.9% during the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after buying an additional 429 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada lifted their price target 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. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays initiated coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Elevance Health Stock Performance

Elevance Health stock opened at $509.67 on Tuesday. The firm’s 50 day simple moving average is $507.68 and its 200 day simple moving average is $481.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $118.60 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.09 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.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share 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 net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.23 EPS. As a group, analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.28%. Elevance Health’s dividend payout ratio is presently 25.90%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% 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.