Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Cynosure Group LLC

Cynosure Group LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 647.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,735 shares of the company’s stock after buying an additional 4,968 shares during the period. Cynosure Group LLC’s holdings in Elevance Health were worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Elevance Health in the 4th quarter valued at approximately $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.4 %

Shares of NYSE:ELV opened at $433.02 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $98.45 billion, a PE ratio of 16.91, a P/E/G ratio of 1.18 and a beta of 0.86. The company’s 50-day moving average price is $406.34 and its 200 day moving average price is $418.81.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Monday, March 17th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. 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 company’s stock in a transaction dated 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 owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.