Diversified Trust Co Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Diversified Trust Co boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,755 shares of the company's stock after buying an additional 4,179 shares during the quarter. Diversified Trust Co's holdings in Elevance Health were worth $11,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $26,000. Riverview Trust Co raised its stake in 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 buying an additional 67 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in Elevance Health during the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at $30,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV stock traded up $8.07 during trading on Friday, reaching $381.25. The company's stock had a trading volume of 1,774,243 shares, compared to its average volume of 1,578,161. 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 company's fifty day moving average is $393.84 and its 200-day moving average is $398.61. The company has a market capitalization of $86.14 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. 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 firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ELV shares. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Guggenheim reissued a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Barclays cut their target price 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. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $498.87.

Insider Activity

In other 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 transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

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.