Investors Research Corp Has $129,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Investors Research Corp lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 274 shares of the company’s stock after purchasing an additional 39 shares during the quarter. Investors Research Corp’s holdings in Elevance Health were worth $129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ELV. Invesco LLC bought a new position in Elevance Health in the fourth quarter valued at about $216,000. Strs Ohio raised its position in Elevance Health by 30.0% in the fourth quarter. Strs Ohio now owns 255,687 shares of the company’s stock valued at $120,571,000 after purchasing an additional 58,985 shares during the last quarter. Grove Bank & Trust raised its position in Elevance Health by 3.6% in the fourth quarter. Grove Bank & Trust now owns 687 shares of the company’s stock valued at $324,000 after purchasing an additional 24 shares during the last quarter. Beverly Hills Private Wealth LLC raised its position in Elevance Health by 12.5% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 4,587 shares of the company’s stock valued at $2,163,000 after purchasing an additional 510 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC bought a new position in Elevance Health in the fourth quarter valued at about $660,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Wells Fargo & Company decreased their price target on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Barclays started coverage on Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target for the company. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 1.4 %

Shares of Elevance Health stock opened at $507.02 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $521.18. The stock has a 50 day moving average price of $507.94 and a two-hundred day moving average price of $482.10. The stock has a market capitalization of $117.98 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. During the same quarter last year, the firm posted $5.23 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Elevance Health 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.