SteelPeak Wealth LLC Buys New Position in Elevance Health, Inc. (NYSE:ELV)

SteelPeak Wealth LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 394 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new stake in Elevance Health during the 4th quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new position in shares of Elevance Health in the 1st quarter worth about $32,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the fourth quarter worth about $31,000. Beaird Harris Wealth Management LLC purchased a new stake in Elevance Health in the fourth quarter worth about $32,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note 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. Finally, Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $611.36.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 1.1 %

ELV stock opened at $541.86 on Monday. The firm’s fifty day simple moving average is $534.36 and its two-hundred day simple moving average is $508.99. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm earned $9.46 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio 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.