DiNuzzo Private Wealth Inc. Makes New $71,000 Investment in Elevance Health, Inc. (NYSE:ELV)

DiNuzzo Private Wealth Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 151 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. abrdn plc grew its holdings in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after acquiring an additional 129,364 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Elevance Health in the fourth quarter valued at $218,000. Chicago Capital LLC increased its holdings in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after buying an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Elevance Health during the 4th quarter worth about $2,235,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $2.31 during trading hours on Wednesday, reaching $526.27. The company’s stock had a trading volume of 418,042 shares, compared to its average volume of 1,045,790. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The company’s 50 day simple moving average is $512.71 and its 200 day simple moving average is $487.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $122.32 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping 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 firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the company earned $9.46 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

A number of research firms have recently commented on ELV. Barclays increased their price objective on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. UBS Group lifted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada upped their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

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.