Dohj LLC Purchases New Position in Elevance Health, Inc. (NYSE:ELV)

Dohj LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,073 shares of the company’s stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. OFI Invest Asset Management purchased a new stake in Elevance Health in the third quarter worth about $25,000. Alaska Permanent Fund Corp bought a new position in shares of Elevance Health in the fourth quarter worth approximately $31,000. ORG Partners LLC bought a new position in shares of Elevance Health in the fourth quarter worth approximately $40,000. Orion Capital Management LLC bought a new position in shares of Elevance Health in the third quarter worth approximately $46,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The shares were 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 of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on 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 directly 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 accessible through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health 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 transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of ELV stock traded down $2.42 on Friday, hitting $537.26. 700,726 shares of the stock traded hands, compared to its average volume of 1,135,198. The firm has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The firm has a 50 day simple moving average of $511.89 and a two-hundred day simple moving average of $486.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for 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%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $9.46 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a $1.63 dividend. 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 dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, UBS Group increased their price objective 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 investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.