Close Asset Management Ltd Acquires 1,456 Shares of Elevance Health, Inc. (NYSE:ELV)

Close Asset Management Ltd raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,003 shares of the company's stock after purchasing an additional 1,456 shares during the period. Elevance Health makes up about 4.7% of Close Asset Management Ltd's portfolio, making the stock its 5th largest holding. Close Asset Management Ltd owned approximately 0.17% of Elevance Health worth $163,177,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at approximately $25,000. Private Wealth Management Group LLC grew its holdings in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at approximately $29,000. Riverview Trust Co grew its holdings in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. Finally, North Capital Inc. bought a new stake in shares of Elevance Health during the 1st quarter valued at approximately $36,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 3.1%

Shares of NYSE:ELV traded up $8.68 during trading on Friday, reaching $289.11. The stock had a trading volume of 4,807,740 shares, compared to its average volume of 2,861,243. The firm's fifty day moving average is $360.79 and its 200 day moving average is $392.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52 week low of $274.40 and a 52 week high of $567.26. The stock has a market cap of $65.10 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.03 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. The firm's revenue was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.37%. Elevance Health's payout ratio is presently 29.11%.

Insider Activity

In related news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday. 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. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $418.19.

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.