LVW Advisors LLC Purchases New Shares in Elevance Health, Inc. (NYSE:ELV)

Posted by on Mar 27th, 2023

LVW Advisors LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 627 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Life Insurance Co. acquired a new stake in shares of Elevance Health in the 4th quarter valued at $1,760,000. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of Elevance Health in the 4th quarter valued at $533,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Elevance Health in the 4th quarter valued at $9,649,000. Zhang Financial LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at $367,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at $54,000. 87.66% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $456.69 on Monday. Elevance Health, Inc. has a 12 month low of $440.02 and a 12 month high of $549.52. The stock’s 50 day moving average is $477.36 and its 200-day moving average is $490.83. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $108.45 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.13 and a beta of 0.85.

Elevance Health (NYSE:ELV – Get Rating) last posted its earnings results on Wednesday, January 25th. The company reported $5.23 EPS for the quarter, beating the consensus estimate of $5.20 by $0.03. Elevance Health had a return on equity of 19.56% and a net margin of 3.85%. The company had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $39.62 billion. During the same quarter in the prior year, the business earned $5.14 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 32.72 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a $1.48 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.28. The ex-dividend date was Thursday, March 9th. This represents a $5.92 annualized dividend and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio is presently 23.88%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Loop Capital raised their price target on Elevance Health from $550.00 to $565.00 in a research report on Monday, January 30th. SVB Leerink restated an “outperform” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Thursday, January 26th. StockNews.com assumed coverage on Elevance Health in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on Elevance Health from $555.00 to $572.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. Finally, Wells Fargo & Company cut their price target on Elevance Health from $609.00 to $597.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 21st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $581.68.

About Elevance Health

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Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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