Elevance Health, Inc. (NYSE:ELV) Shares Bought by Community Bank N.A.

Community Bank N.A. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 12.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,004 shares of the company’s stock after purchasing an additional 566 shares during the period. Community Bank N.A.’s holdings in Elevance Health were worth $2,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new position in Elevance Health during the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health during the 4th quarter worth approximately $31,000. ORG Partners LLC purchased a new position in Elevance Health during the 4th quarter worth approximately $40,000. Orion Capital Management LLC purchased a new position in Elevance Health during the 3rd quarter worth approximately $46,000. Finally, Milestone Investment Advisors LLC purchased a new position in Elevance Health during the 3rd quarter worth approximately $51,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE ELV traded up $0.87 on Wednesday, hitting $533.79. The company had a trading volume of 895,401 shares, compared to its average volume of 1,064,366. The company has a market capitalization of $124.06 billion, a PE ratio of 20.17, a PEG ratio of 1.17 and a beta of 0.78. The company’s fifty day moving average price is $510.78 and its 200-day moving average price is $485.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELV. Jefferies Financial Group lifted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. 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 report on Friday, April 19th. Barclays lifted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Mizuho lifted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate 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.