GAMMA Investing LLC Invests $767,000 in Elevance Health, Inc. (NYSE:ELV)

GAMMA Investing LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,554 shares of the company’s stock, valued at approximately $767,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter worth about $25,000. ORG Partners LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $40,000. Orion Capital Management LLC purchased a new position in Elevance Health in the 3rd quarter valued at approximately $46,000. Milestone Investment Advisors LLC purchased a new position in Elevance Health in the 3rd quarter valued at approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter valued at approximately $56,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELV. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. Barclays lifted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group boosted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $587.64.

Elevance Health Trading Up 0.1 %

ELV stock traded up $0.70 during trading on Tuesday, reaching $532.92. The company had a trading volume of 796,340 shares, compared to its average volume of 1,066,078. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11. The business has a 50 day moving average of $509.68 and a 200 day moving average of $484.51. The company has a market cap of $123.86 billion, a P/E ratio of 20.11, a PEG ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share 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 business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm earned $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal 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 paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health 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.