Demars Financial Group LLC Purchases Shares of 206,606 Elevance Health, Inc. (NYSE:ELV)

Demars Financial Group LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 206,606 shares of the company's stock, valued at approximately $89,865,000. Demars Financial Group LLC owned approximately 0.09% of Elevance Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health during the fourth quarter worth about $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 2.1%

ELV opened at $376.62 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $85.09 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The stock's fifty day simple moving average is $403.64 and its 200 day simple moving average is $399.94. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results 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 company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's 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 sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELV. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health 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.

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