Trust Investment Advisors Invests $213,000 in Elevance Health, Inc. (NYSE:ELV)

Trust Investment Advisors acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 452 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also recently bought and sold shares of the business. Calamos Advisors LLC grew its holdings in Elevance Health by 0.7% in the fourth quarter. Calamos Advisors LLC now owns 24,028 shares of the company’s stock valued at $11,331,000 after purchasing an additional 156 shares during the last quarter. Xponance Inc. raised its holdings in shares of Elevance Health by 7.0% in the 4th quarter. Xponance Inc. now owns 37,886 shares of the company’s stock worth $17,866,000 after purchasing an additional 2,476 shares during the period. Ninety One SA PTY Ltd raised its holdings in shares of Elevance Health by 24.9% in the 4th quarter. Ninety One SA PTY Ltd now owns 40,149 shares of the company’s stock worth $18,933,000 after purchasing an additional 7,994 shares during the period. Ninety One UK Ltd raised its holdings in shares of Elevance Health by 20.7% in the 4th quarter. Ninety One UK Ltd now owns 858,171 shares of the company’s stock worth $404,679,000 after purchasing an additional 147,103 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Elevance Health by 2.7% in the 4th quarter. Federated Hermes Inc. now owns 42,662 shares of the company’s stock worth $20,118,000 after purchasing an additional 1,128 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV traded up $16.22 during mid-day trading on Thursday, hitting $525.19. The stock had a trading volume of 2,594,748 shares, compared to its average volume of 1,053,873. The company has a market cap of $122.21 billion, a PE ratio of 21.27, a PEG ratio of 1.11 and a beta of 0.78. The company’s fifty day simple moving average is $508.17 and its two-hundred day simple moving average is $482.29. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.23 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is currently 25.90%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company cut their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Royal Bank of Canada raised their price objective on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays initiated coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $569.00.

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.