Clear Creek Financial Management LLC Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

Clear Creek Financial Management LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,329 shares of the company's stock, valued at approximately $578,000.

A number of other institutional investors have also made changes to their positions in ELV. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth $26,000. Riverview Trust Co lifted its stake in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the 4th quarter valued at about $30,000. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELV shares. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Mizuho raised 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. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a report on Friday, April 25th. Four 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $498.87.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value 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. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE ELV traded down $1.33 during trading on Friday, reaching $348.92. The company's stock had a trading volume of 2,006,213 shares, compared to its average volume of 1,607,108. The firm has a market capitalization of $78.83 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $347.21 and a 12 month high of $567.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $387.65 and a 200 day moving average price of $398.19.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

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.