Sage Mountain Advisors LLC Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Sage Mountain Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 12.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,055 shares of the company’s stock after purchasing an additional 113 shares during the period. Sage Mountain Advisors LLC’s holdings in Elevance Health were worth $497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 3rd quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth $40,000. Orion Capital Management LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth $46,000. Milestone Investment Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth $51,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth $56,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV opened at $532.17 on Tuesday. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a market capitalization of $123.69 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50-day moving average is $509.68 and its two-hundred day moving average is $484.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on ELV shares. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report 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. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday. Finally, UBS Group boosted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” 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 data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

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.