Baxter Bros Inc. Acquires 684 Shares of Elevance Health, Inc. (NYSE:ELV)

Baxter Bros Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 114.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,284 shares of the company’s stock after buying an additional 684 shares during the quarter. Baxter Bros Inc.’s holdings in Elevance Health were worth $605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Cambridge Investment Research Advisors Inc. increased its holdings in Elevance Health by 10.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,428 shares of the company’s stock valued at $10,637,000 after buying an additional 2,270 shares during the period. Raymond James & Associates increased its holdings in Elevance Health by 37.0% in the 3rd quarter. Raymond James & Associates now owns 243,563 shares of the company’s stock valued at $106,052,000 after buying an additional 65,719 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Elevance Health by 22.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 69,871 shares of the company’s stock valued at $30,423,000 after buying an additional 12,967 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Elevance Health by 141.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,897 shares of the company’s stock valued at $4,745,000 after buying an additional 6,378 shares during the period. Finally, NorthRock Partners LLC boosted its stake in shares of Elevance Health by 24.2% in the 3rd quarter. NorthRock Partners LLC now owns 1,006 shares of the company’s stock valued at $438,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE ELV traded up $1.35 on Friday, hitting $526.96. 819,445 shares of the company were exchanged, compared to its average volume of 1,136,492. The firm has a 50 day moving average of $513.54 and a two-hundred day moving average of $488.91. The company has a market cap of $122.48 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.16 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $542.07.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $9.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. Elevance Health’s payout ratio is presently 24.64%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ELV shares. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company boosted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada boosted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

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.