AMI Investment Management Inc. Acquires 851 Shares of Elevance Health, Inc. (NYSE:ELV)

AMI Investment Management Inc. increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,286 shares of the company's stock after purchasing an additional 851 shares during the quarter. AMI Investment Management Inc.'s holdings in Elevance Health were worth $2,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Milestone Asset Management LLC boosted its holdings in shares of Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the period. Tobam raised its position in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after buying an additional 27 shares during the period. Quent Capital LLC lifted 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 buying an additional 30 shares during the period. Finally, McLean Asset Management Corp grew its position in shares of Elevance Health by 2.3% during the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after buying an additional 32 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ELV. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Barclays lowered their price target on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday. Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Finally, Guggenheim restated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $499.53.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 1.2%

Elevance Health stock opened at $384.61 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market cap of $86.90 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The stock has a 50-day moving average of $410.29 and a two-hundred day moving average of $400.80. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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 3.38% and a return on equity of 18.28%. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. Elevance Health's dividend payout ratio is currently 26.69%.

Elevance Health Company 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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