Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lifted by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 42.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,080 shares of the company’s stock after buying an additional 322 shares during the period. SRS Capital Advisors Inc.’s holdings in Elevance Health were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. abrdn plc increased its holdings in shares of Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after acquiring an additional 129,364 shares during the period. Cerity Partners LLC grew its holdings in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health during the 4th quarter worth $218,000. Chicago Capital LLC grew its stake in shares of Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after purchasing an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Elevance Health during the fourth quarter valued at $2,235,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ELV shares. Barclays upped their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note 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 MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Trading Up 0.3 %

ELV stock traded up $1.40 during mid-day trading on Friday, reaching $527.01. 819,415 shares of the stock traded hands, compared to its average volume of 1,053,297. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The stock’s fifty day moving average is $513.28 and its 200-day moving average is $488.46. The company has a market cap of $122.49 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.16 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $9.46 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, 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. In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.35% 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.