Fulton Breakefield Broenniman LLC Buys 78 Shares of Elevance Health, Inc. (NYSE:ELV)

Fulton Breakefield Broenniman LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 796 shares of the company’s stock after acquiring an additional 78 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Elevance Health were worth $375,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ELV. IAG Wealth Partners LLC increased its position in Elevance Health by 25.0% during the 4th quarter. IAG Wealth Partners LLC now owns 130 shares of the company’s stock valued at $61,000 after buying an additional 26 shares in the last quarter. Jackson Hole Capital Partners LLC increased its position in Elevance Health by 12.9% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 5,671 shares of the company’s stock valued at $2,674,000 after buying an additional 650 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Elevance Health by 171.3% in the fourth quarter. Stevens Capital Management LP now owns 7,260 shares of the company’s stock valued at $3,424,000 after purchasing an additional 4,584 shares during the period. Syon Capital LLC increased its holdings in shares of Elevance Health by 31.0% in the fourth quarter. Syon Capital LLC now owns 3,219 shares of the company’s stock valued at $1,518,000 after purchasing an additional 761 shares during the period. Finally, Meritage Portfolio Management increased its holdings in shares of Elevance Health by 3.9% in the fourth quarter. Meritage Portfolio Management now owns 12,678 shares of the company’s stock valued at $5,978,000 after purchasing an additional 478 shares during the period. 89.24% of the stock is owned by institutional investors.

Insider Activity

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 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 approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’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 of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were 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 in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

ELV stock traded down $2.42 during mid-day trading on Friday, reaching $537.26. 700,726 shares of the company’s stock were exchanged, compared to its average volume of 1,135,198. The company has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The stock’s 50 day moving average is $511.89 and its 200 day moving average is $486.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. 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. Royal Bank of Canada increased their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Truist Financial reissued 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, Wells Fargo & Company upped their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $587.42.

About Elevance Health

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.