StrategIQ Financial Group LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

StrategIQ Financial Group LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 41.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 770 shares of the company’s stock after purchasing an additional 227 shares during the quarter. StrategIQ Financial Group LLC’s holdings in Elevance Health were worth $363,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the third quarter worth about $25,000. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Elevance Health in the third quarter worth $30,000. TD Capital Management LLC purchased a new position in Elevance Health during the fourth quarter worth about $30,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Elevance Health in the 2nd quarter valued at about $39,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related 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 sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald lifted their price objective on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays assumed coverage on Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $569.36.

Check Out Our Latest Report on Elevance Health

Elevance Health Trading Up 0.4 %

ELV traded up $2.19 on Wednesday, hitting $501.41. 235,361 shares of the company were exchanged, compared to its average volume of 1,017,471. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a fifty day simple moving average of $504.62 and a two-hundred day simple moving average of $477.90. The stock has a market capitalization of $116.68 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $521.18.

Elevance Health (NYSE:ELVGet Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.23 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 37.16 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Elevance Health 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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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