Axecap Investments LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Axecap Investments LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,600 shares of the company's stock, valued at approximately $1,131,000.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now 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 legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $5.23 on Thursday, hitting $386.16. The company's stock had a trading volume of 896,041 shares, compared to its average volume of 1,556,320. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $406.37 and a 200-day moving average price of $400.45. The company has a market capitalization of $87.25 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $498.87.

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.