Flagship Wealth Advisors LLC Acquires Shares of 70 Elevance Health, Inc. (NYSE:ELV)

Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter valued at $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the 4th quarter worth about $29,000. Crews Bank & Trust acquired a new position in Elevance Health during the 4th quarter worth about $34,000. Dunhill Financial LLC lifted its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Finally, Financial Perspectives Inc acquired a new position in Elevance Health during the 4th quarter worth about $50,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $436.32 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market cap of $99.20 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The stock has a 50-day moving average of $397.60 and a 200-day moving average of $427.09. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.57%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Monday. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

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.