Elevance Health, Inc. (NYSE:ELV) Shares Bought by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 12.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,671 shares of the company’s stock after acquiring an additional 650 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Elevance Health were worth $2,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC grew its holdings in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after acquiring an additional 21 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after buying an additional 22 shares in the last quarter. Financial Counselors Inc. boosted its holdings in shares of Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after buying an additional 22 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in shares of Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after buying an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research analyst reports. 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 report on Friday, April 19th. Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Finally, UBS Group upped their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insiders Place Their Bets

In other Elevance Health news, 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 approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the 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 completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

Elevance Health stock traded up $5.97 during trading hours on Thursday, reaching $539.70. 1,066,967 shares of the stock were exchanged, compared to its average volume of 1,064,400. The stock has a market cap of $125.44 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78. 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 52-week low of $412.00 and a 52-week high of $542.07. The firm’s 50 day moving average is $511.40 and its 200 day moving average is $485.81.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.46 EPS. Analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders 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 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s payout ratio is currently 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.