Drive Wealth Management LLC Has $399,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Drive Wealth Management LLC boosted its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 847 shares of the company’s stock after buying an additional 70 shares during the quarter. Drive Wealth Management LLC’s holdings in Elevance Health were worth $399,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Roundview Capital LLC increased its holdings in Elevance Health by 2.9% during the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock valued at $912,000 after purchasing an additional 52 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Elevance Health during the 1st quarter worth about $251,000. Baird Financial Group Inc. lifted its position in Elevance Health by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after purchasing an additional 57 shares during the period. Zions Bancorporation N.A. grew its position in shares of Elevance Health by 52.1% during the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after buying an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Elevance Health by 102.9% in the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ELV shares. Barclays assumed coverage on Elevance Health in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target on the stock. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald upped their target price on shares of Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $569.36.

Read Our Latest Research Report on ELV

Elevance Health Stock Down 3.9 %

Shares of ELV traded down $20.07 during midday trading on Tuesday, hitting $495.93. The stock had a trading volume of 818,650 shares, compared to its average volume of 1,013,128. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $115.40 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $521.18. The company has a 50 day simple moving average of $504.08 and a two-hundred day simple moving average of $477.50.

Elevance Health (NYSE:ELVGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same period last year, the company earned $5.23 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Elevance Health, Inc. will post 37.15 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.63 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is 25.90%.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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