Monument Capital Management Purchases 122 Shares of Elevance Health, Inc. (NYSE:ELV)

Monument Capital Management grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 642 shares of the company’s stock after purchasing an additional 122 shares during the period. Monument Capital Management’s holdings in Elevance Health were worth $303,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. abrdn plc raised its stake in shares of Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares in the last quarter. Cerity Partners LLC grew its holdings in Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter worth approximately $218,000. Chicago Capital LLC raised its stake in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after buying an additional 4,986 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $2,235,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $532.17 on Tuesday. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $539.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $509.68 and a 200 day simple moving average of $484.51. The company has a market cap of $123.69 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $9.46 earnings per share. On average, sell-side analysts forecast that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.23%. Elevance Health’s payout ratio is 24.64%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Truist Financial restated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday. UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays lifted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $587.64.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

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.