Arnhold LLC Acquires Shares of 7,899 Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

Arnhold LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,899 shares of the company’s stock, valued at approximately $2,914,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $30,000. Finally, Crews Bank & Trust acquired a new stake in Elevance Health in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $429.08 on Friday. The company has a market capitalization of $97.14 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $419.22 and a 200 day moving average price of $408.94.

Elevance Health (NYSE:ELV – Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their target price on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.44.

Check Out Our Latest Report on Elevance Health

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

About Elevance Health

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).