Tufton Capital Management bought a new position in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,158 shares of the company’s stock, valued at approximately $2,133,000.
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Several other hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. bought a new position in shares of Elevance Health during the 4th quarter worth approximately $1,936,996,000. Charles Schwab Investment Management Inc. boosted its position in Elevance Health by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,333,044 shares of the company’s stock worth $654,818,000 after purchasing an additional 38,563 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Elevance Health by 825.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock worth $372,715,000 after purchasing an additional 676,769 shares during the period. Focused Investors LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at about $254,151,000. Finally, First Trust Advisors LP boosted its position in shares of Elevance Health by 16.5% in the first quarter. First Trust Advisors LP now owns 473,269 shares of the company’s stock valued at $232,479,000 after acquiring an additional 66,880 shares during the period. 87.66% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, EVP Gloria M. Mccarthy sold 15,098 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $444.76, for a total value of $6,714,986.48. Following the completion of the sale, the executive vice president now directly owns 51,435 shares of the company’s stock, valued at approximately $22,876,230.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.27% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Elevance Health from $581.00 to $571.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th. JPMorgan Chase & Co. boosted their target price on Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Truist Financial lowered their target price on Elevance Health from $610.00 to $580.00 and set a “buy” rating for the company in a research note on Friday, March 24th. Loop Capital boosted their target price on Elevance Health from $550.00 to $565.00 in a research note on Monday, January 30th. Finally, StockNews.com initiated coverage on Elevance Health in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $584.26.
Elevance Health Trading Down 0.2 %
ELV stock traded down $1.19 during trading on Thursday, hitting $483.50. The company had a trading volume of 234,153 shares, compared to its average volume of 1,139,349. The business has a 50-day moving average of $475.09 and a 200-day moving average of $489.78. Elevance Health, Inc. has a one year low of $440.02 and a one year high of $549.52. The stock has a market cap of $114.72 billion, a PE ratio of 19.54, a PEG ratio of 1.20 and a beta of 0.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.
Elevance Health (NYSE:ELV – Get Rating) last announced its earnings results on Wednesday, January 25th. The company reported $5.23 EPS for the quarter, beating the consensus estimate of $5.20 by $0.03. The business had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $39.62 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.85%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.14 earnings per share. Research analysts predict that Elevance Health, Inc. will post 32.72 earnings per share for the current fiscal year.
Elevance Health Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Elevance Health’s previous quarterly dividend of $1.28. The ex-dividend date was Thursday, March 9th. Elevance Health’s dividend payout ratio is presently 23.88%.
Elevance Health Profile
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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