Leo Wealth LLC Acquires Shares of 458 Elevance Health, Inc. (NYSE:ELV)

Leo Wealth LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 458 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter worth about $28,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health during the fourth quarter worth about $31,000. Beaird Harris Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter worth $32,000. Hexagon Capital Partners LLC raised its stake in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELV. Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Stephens restated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research note on Tuesday, June 11th. Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $607.36.

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Down 0.1 %

Shares of NYSE ELV opened at $534.38 on Tuesday. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34. The firm’s 50-day moving average is $529.99 and its 200-day moving average is $505.58. 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 firm has a market capitalization of $124.20 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $9.46 earnings per share. Equities analysts expect that Elevance Health, Inc. will post 37.2 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given 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%.

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.