Greatmark Investment Partners Inc. Increases Position in Elevance Health, Inc. (NYSE:ELV)

Greatmark Investment Partners Inc. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,490 shares of the company’s stock after acquiring an additional 1,416 shares during the period. Elevance Health accounts for approximately 1.4% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 26th biggest position. Greatmark Investment Partners Inc.’s holdings in Elevance Health were worth $8,719,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $25,000. Alaska Permanent Fund Corp purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $31,000. ORG Partners LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.6 %

Elevance Health stock traded down $3.40 during mid-day trading on Monday, reaching $533.86. 349,065 shares of the company’s stock were exchanged, compared to its average volume of 1,051,030. The company has a market cap of $124.08 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $511.89 and a 200-day moving average of $486.85.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $9.46 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Ratings Changes

Several research firms have recently weighed in on ELV. 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. Royal Bank of Canada upped their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred 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 directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred 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 directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Elevance Health

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.