Addison Advisors LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Addison Advisors LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 616 shares of the company’s stock after buying an additional 22 shares during the period. Addison Advisors LLC’s holdings in Elevance Health were worth $290,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the third quarter worth about $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health during the fourth quarter valued at approximately $31,000. ORG Partners LLC purchased a new position in Elevance Health during the fourth quarter valued at approximately $40,000. Orion Capital Management LLC bought a new stake in Elevance Health during the third quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC bought a new stake in Elevance Health during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of recent research reports. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Royal Bank of Canada upped their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Down 0.4 %

Shares of NYSE:ELV traded down $2.42 during midday trading on Friday, reaching $537.26. The company’s stock had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The firm has a 50 day moving average of $511.89 and a 200-day moving average of $486.40. The firm has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. The company has a quick ratio of 1.37, a current 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.46 EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.