Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Provence Wealth Management Group

Provence Wealth Management Group boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 830 shares of the company’s stock after buying an additional 131 shares during the period. Provence Wealth Management Group’s holdings in Elevance Health were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ELV. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter valued at about $25,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at about $31,000. Hexagon Capital Partners LLC grew its holdings in shares of Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the period. ORG Partners LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $40,000. Finally, Orion Capital Management LLC purchased a new position in Elevance Health in the third quarter valued at approximately $46,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 0.3 %

Shares of Elevance Health stock traded up $1.35 during trading on Friday, reaching $526.96. The company had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The company has a market cap 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, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm’s fifty day moving average is $513.54 and its 200-day 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 (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $9.46 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

Several research firms have issued reports on ELV. Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Barclays boosted their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, 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. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

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.