453 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Sage Rhino Capital LLC

Sage Rhino Capital LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 453 shares of the company’s stock, valued at approximately $214,000.

A number of other large investors also recently bought and sold shares of the stock. Savant Capital LLC lifted its holdings in Elevance Health by 0.6% in the fourth quarter. Savant Capital LLC now owns 4,690 shares of the company’s stock valued at $2,212,000 after acquiring an additional 30 shares during the period. MONECO Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $281,000. Mission Wealth Management LP lifted its holdings in Elevance Health by 1.5% in the fourth quarter. Mission Wealth Management LP now owns 2,003 shares of the company’s stock valued at $944,000 after acquiring an additional 29 shares during the period. Certuity LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $274,000. Finally, Cozad Asset Management Inc. increased its position in shares of Elevance Health by 3.6% in the fourth quarter. Cozad Asset Management Inc. now owns 753 shares of the company’s stock valued at $355,000 after buying an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s 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 completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s 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 completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ELV shares. Jefferies Financial Group boosted their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company boosted their price objective on Elevance Health from $557.00 to $600.00 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 from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $3.71 during midday trading on Wednesday, hitting $524.87. The company had a trading volume of 81,745 shares, compared to its average volume of 1,041,783. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $121.99 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The business’s 50-day simple moving average is $512.71 and its 200-day simple moving average is $487.94.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the firm earned $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.