Aviso Wealth Management Has $266,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Aviso Wealth Management increased its position in Elevance Health, Inc. (NYSE:ELV) by 55.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 720 shares of the company’s stock after buying an additional 258 shares during the period. Aviso Wealth Management’s holdings in Elevance Health were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at $26,000. Dunhill Financial LLC lifted its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the fourth quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELV. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Trading Down 1.0 %

ELV opened at $423.03 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. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market capitalization of $96.18 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.18 and a beta of 0.86. The company’s 50 day moving average price is $401.73 and its two-hundred day moving average price is $422.80.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.62%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

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.