Congress Wealth Management LLC DE Has $969,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Congress Wealth Management LLC DE boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,625 shares of the company’s stock after purchasing an additional 476 shares during the period. Congress Wealth Management LLC DE’s holdings in Elevance Health were worth $969,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ELV. Fisher Asset Management LLC lifted its position in Elevance Health by 3.8% during the 3rd quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock worth $436,000 after buying an additional 31 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Elevance Health by 6.3% in the third quarter. Townsquare Capital LLC now owns 8,727 shares of the company’s stock worth $4,538,000 after acquiring an additional 517 shares during the last quarter. Cynosure Group LLC lifted its position in shares of Elevance Health by 6.8% during the third quarter. Cynosure Group LLC now owns 767 shares of the company’s stock worth $399,000 after purchasing an additional 49 shares in the last quarter. 140 Summer Partners LP grew its stake in shares of Elevance Health by 54.3% during the third quarter. 140 Summer Partners LP now owns 133,059 shares of the company’s stock valued at $69,191,000 after purchasing an additional 46,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Elevance Health by 3.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 265,927 shares of the company’s stock valued at $138,282,000 after purchasing an additional 8,691 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $431.81 on Friday. The stock has a 50 day simple moving average of $403.50 and a 200 day simple moving average of $422.91. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market capitalization of $98.17 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Analysts Set New Price Targets

A number of brokerages have commented on ELV. Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.