Evergreen Wealth Management LLC Purchases 102 Shares of Elevance Health, Inc. (NYSE:ELV)

Evergreen Wealth Management LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,935 shares of the company’s stock after buying an additional 102 shares during the quarter. Elevance Health accounts for about 1.4% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Evergreen Wealth Management LLC’s holdings in Elevance Health were worth $1,856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ELV. OFI Invest Asset Management bought a new position in Elevance Health in the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health in the 4th quarter worth about $31,000. Hexagon Capital Partners LLC lifted its holdings in Elevance Health by 63.0% during 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 purchased a new stake in Elevance Health in the 4th quarter valued at about $40,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health in the 3rd quarter worth about $46,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Truist Financial reiterated 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. Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their target price 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Up 0.3 %

Shares of Elevance Health stock traded up $1.35 during trading on Friday, reaching $526.96. The company’s stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The company has a 50-day simple moving average of $513.54 and a two-hundred day simple moving average of $489.21. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $542.07. The company has a market cap of $122.48 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.16 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.46 earnings per share. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

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 dividend yield of 1.24%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s 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 transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were sold at an average price of $533.74, for a total transaction 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 approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.