Asio Capital LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 31.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,356 shares of the company's stock after buying an additional 3,446 shares during the period. Elevance Health accounts for 1.2% of Asio Capital LLC's portfolio, making the stock its 23rd biggest position. Asio Capital LLC's holdings in Elevance Health were worth $6,244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health in the 4th quarter worth $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at $30,000. Institutional investors own 89.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ELV. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays dropped their target price on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Truist Financial set a $500.00 price objective on Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and an average target price of $498.87.
Get Our Latest Analysis on ELV
Elevance Health Stock Up 0.1%
Shares of NYSE ELV traded up $0.39 during trading hours on Wednesday, hitting $375.58. 1,144,136 shares of the stock were exchanged, compared to its average volume of 1,714,955. The company has a market cap of $84.86 billion, a PE ratio of 14.65, a PEG ratio of 0.96 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. 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 firm has a fifty day moving average price of $402.42 and a 200-day moving average price of $399.76.
Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is presently 26.69%.
Insider Activity
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.
Elevance Health Profile
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Free Report)
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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