CWA Asset Management Group LLC Acquires Shares of 688 Elevance Health, Inc. (NYSE:ELV)

CWA Asset Management Group LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 688 shares of the company's stock, valued at approximately $299,000.

A number of other large investors have also recently made changes to their positions in ELV. Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP grew its holdings in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC grew its holdings in Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after purchasing an additional 895,658 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ELV. Guggenheim reiterated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Barclays lowered their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Stock Down 0.6%

NYSE:ELV traded down $2.20 during midday trading on Friday, reaching $373.71. 2,939,325 shares of the stock traded hands, compared to its average volume of 1,570,419. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The business has a 50-day moving average of $398.68 and a two-hundred day moving average of $399.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $84.43 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.83%. Elevance Health's 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.