Islay Capital Management LLC Has $773,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Islay Capital Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 1,550.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,096 shares of the company’s stock after purchasing an additional 1,969 shares during the period. Islay Capital Management LLC’s holdings in Elevance Health were worth $773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Tobam grew its stake in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after buying an additional 27 shares in the last quarter. Austin Private Wealth LLC raised its stake in shares of Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after acquiring an additional 30 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELV shares. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Down 5.3 %

NYSE:ELV opened at $428.62 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a market capitalization of $97.03 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.18 and a beta of 0.77. The business’s 50-day moving average price is $408.70 and its two-hundred day moving average price is $418.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed 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 was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

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.