SteelPeak Wealth LLC Buys New Position in Elevance Health, Inc. (NYSE:ELV)

SteelPeak Wealth LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELVFree Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 394 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new stake in Elevance Health during the 4th quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new position in shares of Elevance Health in the 1st quarter worth about $32,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the fourth quarter worth about $31,000. Beaird Harris Wealth Management LLC purchased a new stake in Elevance Health in the fourth quarter worth about $32,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Stephens restated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research note on Tuesday, June 11th. Finally, Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $611.36.

Get Our Latest Stock Analysis on Elevance Health

Insider Transactions at Elevance Health

In other 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 value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 1.1 %

ELV stock opened at $541.86 on Monday. The firm’s fifty day simple moving average is $534.36 and its two-hundred day simple moving average is $508.99. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. 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 twelve month low of $412.00 and a twelve month high of $550.34.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm earned $9.46 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

About Elevance Health

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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