Elevance Health, Inc. (NYSE:ELV) Shares Bought by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,082 shares of the company's stock after purchasing an additional 2,154 shares during the period. Elevance Health accounts for about 1.5% of Greatmark Investment Partners Inc.'s investment portfolio, making the stock its 24th largest position. Greatmark Investment Partners Inc.'s holdings in Elevance Health were worth $11,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ELV. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter worth approximately $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter worth approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter worth approximately $30,000. Finally, Riverview Trust Co boosted its position in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV stock opened at $340.04 on Friday. The company has a market capitalization of $76.83 billion, a P/E ratio of 13.27, a PEG ratio of 0.87 and a beta of 0.60. The company has a 50-day simple moving average of $380.88 and a 200 day simple moving average of $397.57. Elevance Health, Inc. has a fifty-two week low of $337.61 and a fifty-two week 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.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho lifted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price 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.

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