Chemistry Wealth Management LLC Has $3.19 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Chemistry Wealth Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 27.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,334 shares of the company's stock after buying an additional 1,568 shares during the period. Elevance Health accounts for approximately 0.7% of Chemistry Wealth Management LLC's investment portfolio, making the stock its 24th biggest position. Chemistry Wealth Management LLC's holdings in Elevance Health were worth $3,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Milestone Asset Management LLC increased its holdings in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after buying an additional 24 shares during the last quarter. Tobam increased its holdings in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after buying an additional 27 shares during the last quarter. Quent Capital LLC increased its holdings in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after buying an additional 30 shares during the last quarter. Finally, McLean Asset Management Corp increased its holdings in Elevance Health by 2.3% during the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after buying an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELV. Mizuho boosted their target price 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. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $499.53.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Up 2.4%

Shares of Elevance Health stock opened at $393.70 on Friday. The company's 50 day moving average price is $409.50 and its 200-day moving average price is $400.79. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The stock has a market capitalization of $88.95 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.74%. Elevance Health's payout ratio is 26.69%.

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.

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