Cynosure Group LLC Buys 4,968 Shares of Elevance Health, Inc. (NYSE:ELV)

Cynosure Group LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 647.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,735 shares of the company’s stock after buying an additional 4,968 shares during the quarter. Cynosure Group LLC’s holdings in Elevance Health were worth $2,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mutual Advisors LLC increased its position in Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after buying an additional 52 shares during the period. Czech National Bank increased its holdings in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the period. Diversified Trust Co raised its position in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after buying an additional 2,725 shares in the last quarter. JB Capital LLC lifted its holdings in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after acquiring an additional 8,038 shares during the period. Finally, Tidal Investments LLC increased its stake in Elevance Health by 60.6% in the third quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock valued at $5,452,000 after acquiring an additional 3,956 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.4 %

ELV opened at $433.02 on Wednesday. The firm has a market capitalization of $98.45 billion, a PE ratio of 16.91, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company’s 50-day moving average is $406.34 and its 200 day moving average is $418.81.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity at Elevance Health

In other Elevance Health news, 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 sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELV. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $519.81.

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.