Texas Yale Capital Corp. Purchases 105 Shares of Elevance Health, Inc. (NYSE:ELV)

Texas Yale Capital Corp. raised its position in Elevance Health, Inc. (NYSE:ELV) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,175 shares of the company’s stock after buying an additional 105 shares during the period. Texas Yale Capital Corp.’s holdings in Elevance Health were worth $433,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at $26,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the 4th quarter worth $30,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the 4th quarter worth $29,000. Finally, Crews Bank & Trust bought a new position in shares of Elevance Health in the 4th quarter worth $34,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV opened at $436.01 on Thursday. The business’s 50-day moving average price is $411.57 and its two-hundred day moving average price is $414.52. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market capitalization of $98.71 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent research reports. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $519.71.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated 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 sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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.