732 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 732 shares of the company's stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Elevance Health by 15.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,855 shares of the company's stock worth $16,365,000 after purchasing an additional 5,137 shares during the period. Money Concepts Capital Corp grew its position in shares of Elevance Health by 23.8% during the 1st quarter. Money Concepts Capital Corp now owns 2,183 shares of the company's stock valued at $949,000 after acquiring an additional 419 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $401,000. Hunter Perkins Capital Management LLC increased its holdings in Elevance Health by 32.8% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 12,351 shares of the company's stock worth $5,372,000 after acquiring an additional 3,048 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Elevance Health by 18.4% during the first quarter. Illinois Municipal Retirement Fund now owns 54,602 shares of the company's stock worth $23,750,000 after acquiring an additional 8,496 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 11.5%

ELV traded down $45.42 during midday trading on Wednesday, hitting $350.34. 4,413,444 shares of the company's stock traded hands, compared to its average volume of 1,599,331. The company has a market cap of $79.15 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. The stock's fifty day simple moving average is $392.25 and its 200-day simple moving average is $398.81. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. Elevance Health, Inc. has a one year low of $349.61 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.95%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on ELV shares. Robert W. Baird reiterated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho lifted their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Barclays lowered their price target on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

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.