82 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by OFI Invest Asset Management

OFI Invest Asset Management bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 82 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. CWA Asset Management Group LLC bought a new position in Elevance Health in the 3rd quarter worth about $469,000. Assetmark Inc. grew its position in Elevance Health by 1.8% in the 3rd quarter. Assetmark Inc. now owns 12,135 shares of the company’s stock worth $6,310,000 after purchasing an additional 220 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in Elevance Health by 12.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 555 shares of the company’s stock worth $289,000 after purchasing an additional 62 shares during the last quarter. Sigma Planning Corp grew its position in Elevance Health by 4.8% in the 3rd quarter. Sigma Planning Corp now owns 2,385 shares of the company’s stock worth $1,240,000 after purchasing an additional 109 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Elevance Health in the 3rd quarter worth about $96,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Trading Up 3.4 %

Shares of NYSE:ELV opened at $423.44 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $96.27 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a 50 day moving average price of $392.54 and a 200 day moving average price of $431.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ELV shares. Truist Financial decreased their target price on shares of 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 reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. 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 report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.