Tilt Investment Management Holdings PBC Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Tilt Investment Management Holdings PBC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 963 shares of the company’s stock after selling 301 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Elevance Health were worth $454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in Elevance Health during the third quarter valued at approximately $25,000. Fortis Capital Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Elevance Health in the third quarter worth $30,000. TD Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at $30,000. Finally, Tyler Stone Wealth Management purchased a new stake in Elevance Health during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Finally, Barclays assumed coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 4.1 %

ELV traded up $20.80 during midday trading on Thursday, reaching $529.77. 1,575,496 shares of the company’s stock traded hands, compared to its average volume of 1,039,914. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a fifty day moving average of $508.17 and a two-hundred day moving average of $482.29. The stock has a market capitalization of $123.28 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 1.11 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter in the prior year, the company earned $5.23 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

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.