Fielder Capital Group LLC Invests $661,000 in Elevance Health, Inc. (NYSE:ELV)

Fielder Capital Group LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,401 shares of the company’s stock, valued at approximately $661,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter worth $25,000. Alaska Permanent Fund Corp bought a new position in Elevance Health in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC grew its stake in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC bought a new stake in Elevance Health during the 4th quarter valued at $40,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Elevance Health during the third quarter worth $46,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the subject of several recent research reports. Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Mizuho raised their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Price Performance

ELV traded up $6.24 during midday trading on Tuesday, hitting $536.17. The stock had a trading volume of 692,867 shares, compared to its average volume of 1,045,833. The company has a market cap of $124.62 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The business has a fifty day moving average of $514.01 and a 200 day moving average of $489.68. 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 issued 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the company earned $9.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the 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 sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the 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 completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health 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.