Amalgamated Bank Purchases 680 Shares of Elevance Health, Inc. (NYSE:ELV)

Amalgamated Bank raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,923 shares of the company's stock after acquiring an additional 680 shares during the quarter. Amalgamated Bank's holdings in Elevance Health were worth $19,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in shares of Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after purchasing an additional 326,543 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Elevance Health during the 1st quarter worth about $299,000. GAMMA Investing LLC boosted its position in shares of Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Elevance Health by 185.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Elevance Health by 36.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after purchasing an additional 7,410 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 2.2%

NYSE:ELV opened at $381.25 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $86.14 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The firm has a 50-day moving average price of $392.98 and a two-hundred day moving average price of $398.78.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. On average, equities 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 declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. Elevance Health's payout ratio is currently 26.69%.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were 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 owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target 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.

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