Bigelow Investment Advisors LLC Takes $203,000 Position in Elevance Health, Inc. (NYSE:ELV)

Bigelow Investment Advisors LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 431 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the third quarter worth $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $29,000. TD Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $30,000. Tyler Stone Wealth Management acquired a new stake in shares of Elevance Health during the second quarter worth $39,000. Finally, ORG Partners LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $40,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $531.42 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.44. The firm has a market cap of $123.66 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.15 and a beta of 0.78. The firm has a 50 day simple moving average of $509.14 and a 200 day simple moving average of $483.22. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 EPS. The firm’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ELV shares. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $583.77.

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.