Elevance Health, Inc. (NYSE:ELV) Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,421 shares of the company's stock after selling 2,538 shares during the quarter. Archford Capital Strategies LLC's holdings in Elevance Health were worth $618,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at about $26,000. Riverview Trust Co boosted its stake in shares of Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the 4th quarter valued at about $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on 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 owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

ELV traded up $8.07 during trading on Friday, hitting $381.25. 1,774,243 shares of the stock were exchanged, compared to its average volume of 1,581,942. The firm has a market capitalization of $86.14 billion, a P/E ratio of 14.88, a PEG ratio of 0.97 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The stock has a fifty day moving average price of $392.98 and a two-hundred day moving average price of $398.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Barclays decreased 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. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Elevance Health currently has a consensus 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.