Crestline Management LP Has $1.09 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Crestline Management LP raised its stake in Elevance Health, Inc. (NYSE:ELV) by 135.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,966 shares of the company’s stock after purchasing an additional 1,704 shares during the quarter. Crestline Management LP’s holdings in Elevance Health were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the 4th quarter worth $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the 4th quarter worth about $26,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.1 %

Shares of NYSE:ELV opened at $413.01 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a fifty day moving average of $424.00 and a 200 day moving average of $404.69. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market capitalization of $93.31 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last announced 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 company had revenue of $48.77 billion for 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, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.66%. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value 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 trade represents a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Robert W. Baird restated a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Guggenheim reissued a “buy” rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

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.