Creekmur Asset Management LLC Invests $421,000 in Elevance Health, Inc. (NYSE:ELV)

Creekmur Asset Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 968 shares of the company's stock, valued at approximately $421,000.

Other large investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in Elevance Health by 82.9% in the 4th 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. CWA Asset Management Group LLC purchased a new position in shares of Elevance Health during the first quarter valued at approximately $299,000. GAMMA Investing LLC boosted its position in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Elevance Health by 185.7% in the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Elevance Health by 36.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after acquiring an additional 7,410 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 0.4%

Shares of NYSE:ELV traded up $1.12 on Monday, reaching $278.21. The company had a trading volume of 1,034,465 shares, compared to its average volume of 1,670,250. Elevance Health, Inc. has a 52-week low of $274.60 and a 52-week high of $567.26. The firm's 50 day simple moving average is $371.52 and its 200-day simple moving average is $396.02. The firm has a market capitalization of $62.65 billion, a PE ratio of 11.83, a PEG ratio of 0.81 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period in the prior year, the firm posted $10.12 EPS. The business's revenue was up 14.3% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.46%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Argus reaffirmed a "hold" rating on shares of Elevance Health in a report on Monday. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research note on Friday. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and eleven have given 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 $435.93.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 18,977 shares in the company, 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. Corporate insiders own 0.29% of the company's stock.

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.