Cypress Wealth Services LLC Purchases 173 Shares of Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

Cypress Wealth Services LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 21.7% in the first quarter, Holdings Channel reports. The institutional investor owned 969 shares of the company’s stock after buying an additional 173 shares during the period. Cypress Wealth Services LLC’s holdings in Elevance Health were worth $421,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in shares of Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after acquiring an additional 326,543 shares during the period. VELA Investment Management LLC raised its holdings in Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the last quarter. Cambiar Investors LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at about $45,614,000. Unison Asset Management LLC boosted its holdings in shares of Elevance Health by 6.4% during the 4th quarter. Unison Asset Management LLC now owns 25,557 shares of the company’s stock worth $9,428,000 after buying an additional 1,526 shares in the last quarter. Finally, Banque Pictet & Cie SA grew its position in shares of Elevance Health by 44.7% during the 4th quarter. Banque Pictet & Cie SA now owns 26,168 shares of the company’s stock worth $9,653,000 after buying an additional 8,081 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on 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 approximately $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Truist Financial boosted their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Barclays cut their price target on Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $499.53.

Read Our Latest Stock Report on ELV

Elevance Health Stock Performance

NYSE ELV opened at $384.61 on Friday. The company has a fifty day moving average price of $410.29 and a 200-day moving average price of $400.80. The firm has a market cap of $86.90 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26.

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, topping the consensus estimate 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 analysts’ expectations of $46.26 billion. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s dividend payout ratio is currently 26.69%.

Elevance Health Company Profile

(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.

See Also

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