Seven Mile Advisory Takes Position in Elevance Health, Inc. (NYSE:ELV)

Seven Mile Advisory purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 528 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors have also made changes to their positions in ELV. Norges Bank bought a new position in shares of Elevance Health during the 4th quarter worth approximately $1,347,434,000. Massachusetts Financial Services Co. MA bought a new stake in Elevance Health during the 4th quarter worth about $467,141,000. Canoe Financial LP grew its holdings in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after acquiring an additional 249,533 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.7 %

Shares of ELV stock traded up $3.99 on Tuesday, hitting $545.61. 606,328 shares of the company’s stock traded hands, compared to its average volume of 1,015,926. The stock has a market capitalization of $126.81 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.21 and a beta of 0.79. The company’s fifty day simple moving average is $521.27 and its 200 day simple moving average is $496.00. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $547.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors 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 yield of 1.19%. Elevance Health’s payout ratio is 24.64%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. StockNews.com raised shares of Elevance Health from a “buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada increased their price objective on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Barclays raised their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group lifted 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. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $587.42.

View Our Latest Stock Report on ELV

Insiders Place Their Bets

In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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