551 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by KLCM Advisors Inc.

KLCM Advisors Inc. acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, Holdings Channel reports. The firm acquired 551 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Alliance Wealth Advisors LLC grew its position in Elevance Health by 2.9% in 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. Clearstead Advisors LLC boosted 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 valued at $1,096,000 after acquiring an additional 22 shares in the last quarter. Financial Counselors Inc. boosted 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 valued at $994,000 after acquiring an additional 22 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Elevance Health by 2.5% during the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after acquiring an additional 22 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted 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 valued at $131,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays initiated coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $569.00.

Elevance Health Price Performance

NYSE:ELV opened at $508.97 on Thursday. The firm has a market cap of $118.44 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $521.18. 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’s 50-day moving average price is $508.17 and its two-hundred day moving average price is $482.29.

Elevance Health (NYSE:ELV) last announced 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. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same period in the previous year, the firm posted $5.23 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

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.