Avanza Fonder AB trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,105 shares of the company's stock after selling 2,764 shares during the quarter. Avanza Fonder AB's holdings in Elevance Health were worth $6,485,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 4th quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the 4th quarter worth about $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Elevance Health Price Performance
ELV stock traded up $0.69 during mid-day trading on Friday, hitting $386.91. 187,563 shares of the stock were exchanged, compared to its average volume of 1,550,965. The business has a fifty day moving average price of $405.63 and a 200 day moving average price of $400.31. The stock has a market capitalization of $87.42 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.
Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.
Wall Street Analyst Weigh In
ELV has been the subject of several recent analyst reports. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Guggenheim reissued a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho lifted their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $498.87.
View Our Latest Stock Analysis on Elevance Health
Insider Activity at Elevance Health
In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.
About Elevance Health
(
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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