Fountainhead AM LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Fountainhead AM LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 426 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors have also added to or reduced their stakes in ELV. abrdn plc boosted its stake in shares of Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Elevance Health during the 4th quarter valued at about $218,000. Chicago Capital LLC boosted its stake in shares of Elevance Health by 244.2% during the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after purchasing an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Elevance Health during the 4th quarter valued at about $2,235,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ELV shares. Royal Bank of Canada lifted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Elevance Health Stock Up 0.1 %

Elevance Health stock traded up $0.70 during trading hours on Tuesday, hitting $532.92. The stock had a trading volume of 796,340 shares, compared to its average volume of 1,066,078. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $123.86 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The stock’s 50-day moving average price is $510.23 and its 200-day moving average price is $485.10.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $9.46 earnings per share. Equities research analysts anticipate that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

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.