68 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Beaird Harris Wealth Management LLC

Beaird Harris Wealth Management LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 68 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new position in Elevance Health in the fourth quarter worth about $28,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC boosted its position 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 buying an additional 29 shares during the period. ORG Partners LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $40,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.7 %

NYSE:ELV traded down $3.94 during trading hours on Friday, reaching $534.81. The company’s stock had a trading volume of 584,312 shares, compared to its average volume of 1,073,649. The company has a market capitalization of $124.30 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $550.34. 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 50 day moving average price of $529.50 and a two-hundred day moving average price of $504.92.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.46 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 37.2 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Bank of America boosted their price target on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Robert W. Baird started coverage on Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Buy” and a consensus target price of $607.36.

Elevance Health Company 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.