Unique Wealth Strategies LLC Purchases Shares of 5,129 Elevance Health, Inc. (NYSE:ELV)

Unique Wealth Strategies LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,129 shares of the company’s stock, valued at approximately $2,419,000. Elevance Health comprises about 1.6% of Unique Wealth Strategies LLC’s holdings, making the stock its 15th biggest position.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the third quarter valued at about $25,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health during the fourth quarter valued at about $31,000. ORG Partners LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $40,000. Orion Capital Management LLC acquired a new position in shares of Elevance Health during the third quarter valued at about $46,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Elevance Health during the third quarter valued at about $51,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the 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 in the company, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’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 completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction 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 firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV traded down $2.42 during midday trading on Friday, hitting $537.26. The stock had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The stock has a 50 day simple moving average of $511.89 and a 200-day simple moving average of $486.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $124.87 billion, a PE ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating 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 company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $9.46 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Wells Fargo & Company increased their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada increased their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Finally, Barclays increased their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.