ICW Investment Advisors LLC Invests $375,000 in Elevance Health, Inc. (NYSE:ELV)

ICW Investment Advisors LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,015 shares of the company’s stock, valued at approximately $375,000.

Several other institutional investors have also modified their holdings of the stock. Congress Wealth Management LLC DE raised its holdings in shares of Elevance Health by 22.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,625 shares of the company’s stock worth $969,000 after acquiring an additional 476 shares during the period. Twin City Private Wealth LLC raised its holdings in Elevance Health by 17.2% in the 4th quarter. Twin City Private Wealth LLC now owns 4,141 shares of the company’s stock valued at $1,528,000 after buying an additional 609 shares during the period. Crowley Wealth Management Inc. purchased a new stake in Elevance Health in the 4th quarter valued at about $111,000. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares during the period. Finally, Community Bank N.A. raised its holdings in Elevance Health by 19.7% in the 4th quarter. Community Bank N.A. now owns 6,025 shares of the company’s stock valued at $2,222,000 after buying an additional 990 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $427.27 on Monday. The business has a 50-day simple moving average of $400.52 and a 200-day simple moving average of $424.46. The company has a market cap of $97.14 billion, a PE ratio of 16.68, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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 is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.60%. Elevance Health’s payout ratio is presently 26.71%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ELV shares. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health 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.