Sapient Capital LLC Purchases New Holdings in Elevance Health, Inc. (NYSE:ELV)

Sapient Capital LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,068 shares of the company’s stock, valued at approximately $2,390,000.

A number of other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Elevance Health in the third quarter worth about $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health during the fourth quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted its holdings in Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares during the period. ORG Partners LLC bought a new position in Elevance Health in the fourth quarter valued at approximately $40,000. Finally, Orion Capital Management LLC acquired a new stake in Elevance Health during the 3rd quarter worth $46,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ELV shares. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Mizuho upped their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company upped their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Barclays lifted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Insider Activity 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 directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, 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 transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.3 %

Elevance Health stock traded up $1.35 during mid-day trading on Friday, reaching $526.96. The company’s stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The business’s 50 day simple moving average is $513.54 and its 200 day simple moving average is $488.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a market capitalization of $122.48 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

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 business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 earnings per share. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced 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. 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%.

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.