Cambridge Investment Research Advisors Inc. Has $14.49 Million Position in Elevance Health, Inc. (NYSE:ELV)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,304 shares of the company's stock after purchasing an additional 2,901 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Elevance Health were worth $14,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. CIBC Private Wealth Group LLC lifted its stake in shares of Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. VELA Investment Management LLC raised its holdings in Elevance Health by 101.6% in the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock worth $765,000 after acquiring an additional 1,045 shares during the period. CWA Asset Management Group LLC acquired a new position in Elevance Health during the 1st quarter worth $299,000. Mn Services Vermogensbeheer B.V. lifted its position in Elevance Health by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 93,000 shares of the company's stock worth $34,308,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after acquiring an additional 2,004 shares during the period. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health 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 sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $2.19 during midday trading on Wednesday, reaching $374.23. 1,228,427 shares of the company's stock were exchanged, compared to its average volume of 1,570,119. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The company's 50 day simple moving average is $396.08 and its two-hundred day simple moving average is $398.93. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The firm has a market capitalization of $84.55 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly 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. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Mizuho increased their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.