Beverly Hills Private Wealth LLC Buys 1,755 Shares of Elevance Health, Inc. (NYSE:ELV)

Beverly Hills Private Wealth LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,552 shares of the company's stock after acquiring an additional 1,755 shares during the quarter. Elevance Health accounts for about 1.2% of Beverly Hills Private Wealth LLC's investment portfolio, making the stock its 14th largest holding. Beverly Hills Private Wealth LLC's holdings in Elevance Health were worth $5,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the fourth quarter worth approximately $26,000. Riverview Trust Co grew its position in Elevance Health by 1,340.0% during the first 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 bought a new stake in Elevance Health during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health during the fourth quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of ELV stock traded up $2.14 during mid-day trading on Tuesday, hitting $349.02. The company had a trading volume of 342,277 shares, compared to its average volume of 1,608,102. Elevance Health, Inc. has a 52-week low of $343.72 and a 52-week high of $567.26. The stock's 50 day moving average price is $386.32 and its 200-day moving average price is $398.50. 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 $78.85 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.88 and a beta of 0.60.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ELV. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays cut their target price 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, June 2nd. Finally, Guggenheim reiterated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.