Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Xponance Inc.

Xponance Inc. lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.0% during the fourth quarter, Holdings Channel reports. The fund owned 37,886 shares of the company’s stock after buying an additional 2,476 shares during the quarter. Xponance Inc.’s holdings in Elevance Health were worth $17,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC boosted its holdings in Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after buying an additional 21 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after purchasing an additional 22 shares in the last quarter. Financial Counselors Inc. lifted its holdings in Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after purchasing an additional 22 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after buying an additional 22 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays began coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $16.22 on Thursday, hitting $525.19. The company’s stock had a trading volume of 2,584,731 shares, compared to its average volume of 1,053,739. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $539.11. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $508.17 and a 200-day moving average price of $482.29. The company has a market capitalization of $122.21 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.23 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio is 25.90%.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

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.