ICW Investment Advisors LLC Invests $375,000 in Elevance Health, Inc. (NYSE:ELV)

ICW Investment Advisors LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,015 shares of the company’s stock, valued at approximately $375,000.

Several other large investors have also modified their holdings of the stock. Congress Wealth Management LLC DE raised its stake in shares of Elevance Health by 22.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 2,625 shares of the company’s stock worth $969,000 after purchasing an additional 476 shares during the last quarter. Twin City Private Wealth LLC grew its holdings in Elevance Health by 17.2% during the fourth quarter. Twin City Private Wealth LLC now owns 4,141 shares of the company’s stock worth $1,528,000 after acquiring an additional 609 shares during the period. Crowley Wealth Management Inc. acquired a new position in Elevance Health during the fourth quarter worth $111,000. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after acquiring an additional 138,380 shares during the period. Finally, Community Bank N.A. grew its holdings in Elevance Health by 19.7% during the fourth quarter. Community Bank N.A. now owns 6,025 shares of the company’s stock worth $2,222,000 after acquiring an additional 990 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Monday, March 17th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Stock Down 1.6 %

ELV opened at $427.27 on Monday. The business’s fifty day simple moving average is $400.52 and its 200 day simple moving average is $424.46. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market cap of $97.14 billion, a P/E ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.60%. Elevance Health’s dividend payout ratio is 26.71%.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.