Marks Group Wealth Management Inc Takes Position in Elevance Health, Inc. (NYSE:ELV)

Marks Group Wealth Management Inc acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 461 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors also recently modified their holdings of the company. Alliance Wealth Advisors LLC boosted its position in shares of Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares during the period. Clearstead Advisors LLC raised its stake in shares of Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after acquiring an additional 22 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Elevance Health by 1.0% in the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares during the period. Sugarloaf Wealth Management LLC increased its stake in shares of Elevance Health by 8.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after buying an additional 22 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. UBS Group lifted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group lifted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Performance

Shares of ELV stock opened at $535.00 on Wednesday. The company’s fifty day moving average price is $510.23 and its 200-day moving average price is $485.10. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $124.34 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $539.11.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.46 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend 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.