816 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 816 shares of the company’s stock, valued at approximately $385,000.

Several other large investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the third quarter worth approximately $25,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $31,000. Hexagon Capital Partners LLC lifted its stake in shares of Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC acquired a new position in Elevance Health during the fourth quarter worth about $40,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health during the 3rd quarter valued at about $46,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. UBS Group upped their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company lifted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 1.2 %

NYSE:ELV traded up $6.13 during midday trading on Tuesday, reaching $536.06. The company had a trading volume of 692,867 shares, compared to its average volume of 1,045,833. The stock’s fifty day simple moving average is $514.57 and its 200-day simple moving average is $490.26. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The firm has a market capitalization of $124.59 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $9.46 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal 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 of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

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.