Elevance Health, Inc. (NYSE:ELV) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,116 shares of the company's stock after purchasing an additional 1,029 shares during the period. Valeo Financial Advisors LLC's holdings in Elevance Health were worth $1,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $5.82 during trading hours on Friday, reaching $340.04. The stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,631,093. The firm has a market cap of $76.83 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.88 and a beta of 0.60. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a fifty-two week low of $337.61 and a fifty-two week high of $567.26. The firm has a 50-day moving average of $380.88 and a 200-day moving average of $397.40.

Elevance Health (NYSE:ELV - Get Free Report) last announced its 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. 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%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. Elevance Health's payout ratio is 26.69%.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Guggenheim reissued a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Truist Financial set a $500.00 price target on Elevance Health and gave the stock a "buy" rating in a report on Monday, June 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $495.80.

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.