Elevance Health, Inc. (NYSE:ELV) Position Boosted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,189 shares of the company's stock after purchasing an additional 735 shares during the period. Concurrent Investment Advisors LLC's holdings in Elevance Health were worth $952,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Milestone Asset Management LLC increased its stake in shares of Elevance Health by 2.2% in 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. Elser Financial Planning Inc boosted its holdings in Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after purchasing an additional 27 shares during the period. Barlow Wealth Partners Inc. boosted its holdings in Elevance Health by 1.3% in the first quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after purchasing an additional 30 shares during the period. Finally, McLean Asset Management Corp boosted its holdings in Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after purchasing an additional 32 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Elevance Health stock traded down $5.82 during midday trading on Friday, hitting $340.04. The company's stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,633,788. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average price is $380.88 and its 200-day moving average price is $397.40. Elevance Health, Inc. has a 12 month low of $337.61 and a 12 month high of $567.26. The company has a market capitalization of $76.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 2.01%. Elevance Health's payout ratio is presently 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 dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research reports. Mizuho lifted their price objective 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. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Robert W. Baird reissued a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $495.80.

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.