Fisher Asset Management LLC Purchases 155 Shares of Elevance Health, Inc. (NYSE:ELV)

Fisher Asset Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 899 shares of the company’s stock after purchasing an additional 155 shares during the period. Fisher Asset Management LLC’s holdings in Elevance Health were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in Elevance Health in the fourth quarter worth about $28,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $31,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $32,000. Hexagon Capital Partners LLC increased its position in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after acquiring an additional 29 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $40,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Stephens reissued an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Tuesday, June 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Wednesday, June 12th. One equities research analyst has 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. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $607.36.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $534.42 on Monday. The firm’s fifty day simple moving average is $532.04 and its two-hundred day simple moving average is $506.97. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $550.34. The firm has a market capitalization of $124.21 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the firm posted $9.46 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 37.2 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s payout ratio is currently 24.64%.

Elevance Health 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.