Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 71.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,775 shares of the company’s stock after acquiring an additional 5,320 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Elevance Health were worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $26,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the 4th quarter worth $30,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Finally, Crews Bank & Trust acquired a new position in shares of Elevance Health during the fourth quarter worth about $34,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Guggenheim assumed coverage on Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Finally, Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $508.81.

Elevance Health Stock Down 2.4 %

Shares of NYSE:ELV opened at $424.44 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $96.09 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock’s fifty day simple moving average is $416.77 and its 200-day simple moving average is $409.81.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

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.