ST Germain D J Co. Inc. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 922 shares of the company’s stock, valued at approximately $113,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth about $25,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth about $25,000. Hexagon Capital Partners LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth about $26,000. Destiny Wealth Partners LLC purchased a new stake in Elevance Health during the 4th quarter valued at about $26,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in Elevance Health during the 4th quarter valued at about $26,000. Hedge funds and other institutional investors own 87.66% of the company’s stock.
Insiders Place Their Bets
In other Elevance Health news, EVP Gloria M. Mccarthy sold 15,098 shares of the stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $444.76, for a total value of $6,714,986.48. Following the sale, the executive vice president now directly owns 51,435 shares of the company’s stock, valued at approximately $22,876,230.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.
Elevance Health Stock Performance
Elevance Health (NYSE:ELV – Get Rating) last released its earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.26 by $0.20. The company had revenue of $41.90 billion for the quarter, compared to analyst estimates of $40.93 billion. Elevance Health had a net margin of 3.86% and a return on equity of 20.05%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $8.25 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.78 EPS for the current year.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, June 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. Elevance Health’s dividend payout ratio (DPR) is presently 23.04%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on ELV shares. StockNews.com started coverage on shares of Elevance Health in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Elevance Health from $571.00 to $575.00 in a research note on Thursday, April 20th. Royal Bank of Canada raised shares of Elevance Health from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $523.00 to $572.00 in a research note on Tuesday, March 28th. 22nd Century Group reaffirmed an “upgrade” rating on shares of Elevance Health in a research note on Thursday, April 27th. Finally, Wells Fargo & Company decreased their target price on shares of Elevance Health from $597.00 to $561.00 in a report on Monday, April 24th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $570.60.
About Elevance Health
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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