Impact Capital Partners LLC Invests $239,000 in Elevance Health, Inc. (NYSE:ELV)

Impact Capital Partners LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 647 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors also recently modified their holdings of ELV. Versor Investments LP acquired a new position in shares of Elevance Health during the third quarter worth approximately $455,000. GSA Capital Partners LLP acquired a new position in shares of Elevance Health in the third quarter valued at $518,000. Pinnacle Financial Partners Inc raised its stake in shares of Elevance Health by 1.6% in the third quarter. Pinnacle Financial Partners Inc now owns 2,945 shares of the company’s stock valued at $1,531,000 after purchasing an additional 47 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Elevance Health by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,698 shares of the company’s stock valued at $4,003,000 after purchasing an additional 118 shares in the last quarter. Finally, Kovack Advisors Inc. raised its stake in shares of Elevance Health by 9.7% in the third quarter. Kovack Advisors Inc. now owns 486 shares of the company’s stock valued at $253,000 after purchasing an additional 43 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV stock opened at $421.72 on Friday. The stock’s fifty day moving average is $395.45 and its 200-day moving average is $430.47. 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 $95.88 billion, a PE ratio of 16.47, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts expect 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 issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated 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 completion of 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 company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.