Jackson Hole Capital Partners LLC Purchases 650 Shares of Elevance Health, Inc. (NYSE:ELV)

Jackson Hole Capital Partners LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,671 shares of the company’s stock after purchasing an additional 650 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Elevance Health were worth $2,674,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Elevance Health in the 3rd quarter worth about $25,000. Alaska Permanent Fund Corp bought a new position in Elevance Health in the 4th quarter worth about $31,000. ORG Partners LLC bought a new position in Elevance Health in the 4th quarter worth about $40,000. Orion Capital Management LLC bought a new position in Elevance Health in the 3rd quarter worth about $46,000. Finally, Milestone Investment Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth about $51,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 1.1 %

NYSE:ELV traded up $5.97 during midday trading on Thursday, reaching $539.70. 1,066,967 shares of the stock traded hands, compared to its average volume of 1,064,400. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The business has a 50-day moving average of $511.40 and a two-hundred day moving average of $485.81. 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 capitalization of $125.44 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last posted 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 business had revenue of $42.27 billion during 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%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $9.46 earnings per share. On average, equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’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 of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ELV shares. Truist Financial restated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Wells Fargo & Company increased their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $587.42.

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.