Intellectus Partners LLC Buys 1,171 Shares of Elevance Health, Inc. (NYSE:ELV)

Intellectus Partners LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 35.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,440 shares of the company’s stock after acquiring an additional 1,171 shares during the period. Intellectus Partners LLC’s holdings in Elevance Health were worth $2,094,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the third quarter worth $25,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health during the fourth quarter worth $31,000. ORG Partners LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $40,000. Orion Capital Management LLC acquired a new stake in shares of Elevance Health during the third quarter worth $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth $51,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ELV shares. Mizuho increased their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial restated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Down 0.4 %

Shares of ELV traded down $2.42 during trading hours on Friday, reaching $537.26. 700,726 shares of the stock traded hands, compared to its average volume of 1,135,198. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $511.89 and a 200 day simple moving average of $486.62. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The company has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the firm earned $9.46 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.