Elevance Health, Inc. (NYSE:ELV) Shares Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 289.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331 shares of the company’s stock after purchasing an additional 246 shares during the period. CoreCap Advisors LLC’s holdings in Elevance Health were worth $122,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was 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 in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus set a $465.00 price objective on Elevance Health in a research note on Friday, April 25th. Barclays boosted their target price on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $510.38.

Elevance Health Stock Up 3.0%

Shares of Elevance Health stock opened at $416.87 on Tuesday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a market capitalization of $94.18 billion, a PE ratio of 16.28, a P/E/G 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. The business has a 50-day moving average of $424.52 and a 200-day moving average of $404.35.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. Elevance Health’s payout ratio is 26.69%.

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.