Flagship Wealth Advisors LLC Invests $26,000 in Elevance Health, Inc. (NYSE:ELV)

Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 70 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the 4th quarter worth approximately $34,000. Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Financial Perspectives Inc bought a new position in shares of Elevance Health during the 4th quarter worth approximately $50,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 1.3 %

Shares of Elevance Health stock opened at $436.32 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market capitalization of $99.20 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.18 and a beta of 0.86. The business has a fifty day simple moving average of $397.60 and a two-hundred day simple moving average of $427.09. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on 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 $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.