Orgel Wealth Management LLC Purchases Shares of 485 Elevance Health, Inc. (NYSE:ELV)

Orgel Wealth Management LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 485 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. CIBC Private Wealth Group LLC grew its position in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after acquiring an additional 326,543 shares during the last quarter. VELA Investment Management LLC lifted its position in shares of Elevance Health by 101.6% in the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the period. Cambiar Investors LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $45,614,000. Banque Pictet & Cie SA boosted its position in shares of Elevance Health by 44.7% during the fourth quarter. Banque Pictet & Cie SA now owns 26,168 shares of the company’s stock valued at $9,653,000 after purchasing an additional 8,081 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Elevance Health by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 93,000 shares of the company’s stock worth $34,308,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELV. Truist Financial cut their price target on Elevance Health from $510.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price target on Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.9%

ELV stock opened at $389.66 on Tuesday. The firm’s fifty day simple moving average is $408.71 and its two-hundred day simple moving average is $400.71. The stock has a market capitalization of $88.04 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26.

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

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.76%. Elevance Health’s payout ratio is currently 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.