Barlow Wealth Partners Inc. Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Barlow Wealth Partners Inc. purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,177 shares of the company’s stock, valued at approximately $1,027,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Elevance Health in the third quarter valued at about $25,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the fourth quarter valued at $31,000. Hexagon Capital Partners LLC boosted its stake in Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after acquiring an additional 29 shares during the last quarter. ORG Partners LLC acquired a new position in Elevance Health during the 4th quarter worth $40,000. Finally, Orion Capital Management LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV traded down $2.82 during trading hours on Wednesday, reaching $533.35. 778,951 shares of the company’s stock traded hands, compared to its average volume of 1,042,833. The firm has a market capitalization of $123.96 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.16 and a beta of 0.79. The business’s fifty day simple moving average is $514.57 and its two-hundred day simple moving average is $490.26. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. 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 issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping 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 company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the business posted $9.46 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELV. Royal Bank of Canada boosted their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

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.