KMG Fiduciary Partners LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 782 shares of the company's stock, valued at approximately $340,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter valued at $26,000. Riverview Trust Co raised its position in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the period. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Elevance Health in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.
Wall Street Analyst Weigh In
ELV has been the topic of a number of research analyst reports. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Barclays dropped their price objective on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research note on Monday, June 2nd. Argus set a $465.00 price objective on Elevance Health in a research note on Friday, April 25th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $499.53.
Get Our Latest Report on Elevance Health
Elevance Health Trading Up 2.4%
ELV opened at $393.70 on Monday. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The stock has a market capitalization of $88.95 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a fifty day moving average price of $409.50 and a 200 day moving average price of $400.80.
Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.74%. Elevance Health's payout ratio is 26.69%.
Insider Buying and Selling
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale 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 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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