678 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Park National Corp OH

Park National Corp OH acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 678 shares of the company’s stock, valued at approximately $295,000.

A number of other hedge funds have also recently made changes to their positions in ELV. Tobam lifted its holdings in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after buying an additional 27 shares in the last quarter. Austin Private Wealth LLC lifted its holdings in Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after buying an additional 29 shares in the last quarter. Quent Capital LLC lifted its holdings in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after buying an additional 30 shares in the last quarter. Finally, Keystone Financial Services lifted its holdings in Elevance Health by 2.4% during the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock worth $530,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Barclays increased their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Robert W. Baird restated a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $379.99 on Friday. The company’s fifty day moving average price is $415.24 and its 200 day moving average price is $401.68. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. 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 firm has a market capitalization of $85.85 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

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.