Scissortail Wealth Management LLC Acquires Shares of 2,240 Elevance Health, Inc. (NYSE:ELV)

Scissortail Wealth Management LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,240 shares of the company’s stock, valued at approximately $1,090,000.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Norges Bank purchased a new stake in shares of Elevance Health during the fourth quarter worth $1,253,211,000. Legal & General Group Plc acquired a new position in Elevance Health in the fourth quarter valued at about $944,528,000. Moneta Group Investment Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at about $664,077,000. Arrowstreet Capital Limited Partnership lifted its position in Elevance Health by 825.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after buying an additional 676,769 shares during the last quarter. Finally, Barclays PLC lifted its position in Elevance Health by 52.9% in the second quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock valued at $561,318,000 after buying an additional 437,225 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock traded up $6.93 during midday trading on Tuesday, reaching $507.02. 1,127,280 shares of the company were exchanged, compared to its average volume of 1,027,938. The company has a market capitalization of $117.98 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.09 and a beta of 0.78. The firm’s 50-day simple moving average is $507.68 and its 200-day simple moving average is $481.59. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.23 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is presently 25.90%.

Analyst Ratings Changes

Several analysts recently weighed in on ELV shares. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays assumed coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.