Meriwether Wealth & Planning LLC Invests $592,000 in Elevance Health, Inc. (NYSE:ELV)

Meriwether Wealth & Planning LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,604 shares of the company’s stock, valued at approximately $592,000.

Several other hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its holdings in shares of Elevance Health by 11.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 32,291 shares of the company’s stock worth $11,913,000 after purchasing an additional 3,190 shares during the period. Roberts Glore & Co. Inc. IL increased its stake in Elevance Health by 229.2% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 2,212 shares of the company’s stock valued at $816,000 after acquiring an additional 1,540 shares during the last quarter. OFI Invest Asset Management bought a new position in Elevance Health in the fourth quarter valued at approximately $29,000. United Community Bank increased its stake in Elevance Health by 9.6% in the fourth quarter. United Community Bank now owns 1,760 shares of the company’s stock valued at $649,000 after acquiring an additional 154 shares during the last quarter. Finally, Naviter Wealth LLC bought a new position in Elevance Health in the fourth quarter valued at approximately $1,300,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $409.59 on Monday. The firm has a market cap of $93.12 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The firm’s fifty day moving average is $390.64 and its 200-day moving average is $433.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.67%. Elevance Health’s payout ratio is presently 26.71%.

Elevance Health Company 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.