1,408 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Brooklyn FI LLC

Brooklyn FI LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,408 shares of the company’s stock, valued at approximately $519,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raelipskie Partnership purchased a new stake in Elevance Health during the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health in the 4th quarter worth $34,000. Finally, Dunhill Financial LLC raised its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’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 approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Monday. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $430.87 on Thursday. The stock has a market cap of $97.96 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The stock has a 50 day moving average price of $398.56 and a 200-day moving average price of $427.12. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. 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 (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

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.