Inkwell Capital LLC Buys Shares of 3,240 Elevance Health, Inc. (NYSE:ELV)

Inkwell Capital LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,240 shares of the company’s stock, valued at approximately $1,195,000. Elevance Health comprises approximately 1.3% of Inkwell Capital LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Tobam grew its position in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its stake in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after purchasing an additional 29 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. 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 stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.0 %

Elevance Health stock opened at $431.84 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market cap of $98.18 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company’s 50-day moving average price is $404.45 and its two-hundred day moving average price is $421.28. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its quarterly 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%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.58%. Elevance Health’s payout ratio is 26.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

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.