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

Elevance Health logo with Medical background

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.

Check Out Our Latest Stock Analysis on ELV

Elevance Health Company Profile

(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.

See Also

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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