Elevance Health, Inc. (NYSE:ELV) Shares Bought by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,552 shares of the company's stock after acquiring an additional 1,755 shares during the quarter. Elevance Health comprises approximately 1.2% of Beverly Hills Private Wealth LLC's portfolio, making the stock its 14th biggest holding. Beverly Hills Private Wealth LLC's holdings in Elevance Health were worth $5,895,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ELV. Norges Bank acquired a new position in shares of Elevance Health during the 4th quarter worth $1,135,014,000. Wellington Management Group LLP raised its stake in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC raised its stake in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after buying an additional 895,658 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ELV. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reiterated a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Truist Financial set a $500.00 target price on Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four investment 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health Stock Performance

Shares of ELV stock traded down $1.08 on Monday, hitting $346.76. 2,255,777 shares of the stock traded hands, compared to its average volume of 1,612,990. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $78.34 billion, a PE ratio of 13.53, a PEG ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $343.83 and a 1-year high of $567.26. The company's fifty day moving average is $387.65 and its 200 day moving average is $398.64.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm's 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 directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

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.