Retirement Guys Formula LLC Buys 1,373 Shares of Elevance Health, Inc. (NYSE:ELV)

Retirement Guys Formula LLC raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,167 shares of the company's stock after buying an additional 1,373 shares during the period. Elevance Health makes up about 0.9% of Retirement Guys Formula LLC's investment portfolio, making the stock its 29th largest holding. Retirement Guys Formula LLC's holdings in Elevance Health were worth $1,812,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. Wealthspire Advisors LLC grew its position in Elevance Health by 22.4% during the 4th quarter. Wealthspire Advisors LLC now owns 1,028 shares of the company's stock worth $379,000 after purchasing an additional 188 shares in the last quarter. Howard Capital Management Inc. raised its position in Elevance Health by 5.0% during the fourth quarter. Howard Capital Management Inc. now owns 1,524 shares of the company's stock valued at $562,000 after buying an additional 72 shares during the period. C WorldWide Group Holding A S lifted its stake in Elevance Health by 30.3% in the 4th quarter. C WorldWide Group Holding A S now owns 91,383 shares of the company's stock worth $33,711,000 after acquiring an additional 21,239 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Elevance Health during the 4th quarter worth about $4,848,000. Finally, Colonial River Investments LLC grew its stake in Elevance Health by 168.0% during the 4th quarter. Colonial River Investments LLC now owns 1,509 shares of the company's stock valued at $557,000 after acquiring an additional 946 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV stock traded down $2.19 during mid-day trading on Wednesday, reaching $374.23. 1,228,428 shares of the stock traded hands, compared to its average volume of 1,570,119. 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 business has a 50-day moving average of $396.08 and a two-hundred day moving average of $398.93. The firm has a market capitalization of $84.55 billion, a PE ratio of 14.60, a P/E/G ratio of 0.95 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 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 the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ELV shares. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Guggenheim restated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $498.87.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value 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 approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Elevance Health Company 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.