Allworth Financial LP Acquires 1,217 Shares of Elevance Health, Inc. (NYSE:ELV)

Allworth Financial LP boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,905 shares of the company's stock after purchasing an additional 1,217 shares during the period. Allworth Financial LP's holdings in Elevance Health were worth $1,674,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after buying an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after purchasing an additional 464,137 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC lifted its stake in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC grew its holdings in Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the period. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the 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 transaction, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Elevance Health Trading Down 1.7%

Shares of ELV stock opened at $340.04 on Friday. The company has a market capitalization of $76.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. Elevance Health, Inc. has a 52-week low of $337.61 and a 52-week high of $567.26. The business's fifty day moving average is $380.88 and its 200 day moving average is $397.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays lowered their target price on Elevance Health from $480.00 to $434.00 and set an "overweight" rating on the stock in a research note on Wednesday. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $495.80.

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.

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