Community Bank & Trust Waco Texas Purchases 846 Shares of Elevance Health, Inc. (NYSE:ELV)

Community Bank & Trust Waco Texas grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,615 shares of the company’s stock after buying an additional 846 shares during the quarter. Elevance Health accounts for about 1.6% of Community Bank & Trust Waco Texas’ holdings, making the stock its 21st biggest position. Community Bank & Trust Waco Texas’ holdings in Elevance Health were worth $5,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. OFI Invest Asset Management purchased a new position in Elevance Health in the 3rd quarter worth approximately $25,000. ORG Partners LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $40,000. Orion Capital Management LLC purchased a new position in Elevance Health in the 3rd quarter worth approximately $46,000. Milestone Investment Advisors LLC purchased a new position in Elevance Health in the 3rd quarter worth approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $56,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ELV shares. Royal Bank of Canada upped 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, April 19th. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.3 %

Shares of ELV traded down $1.59 during trading hours on Wednesday, reaching $531.33. 194,784 shares of the company traded hands, compared to its average volume of 1,054,977. The firm has a market cap of $123.49 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average price is $510.23 and its 200 day moving average price is $485.10.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $9.46 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

About Elevance Health

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.