Hardy Reed LLC Has $2.55 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Hardy Reed LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 156.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,861 shares of the company's stock after acquiring an additional 3,574 shares during the period. Hardy Reed LLC's holdings in Elevance Health were worth $2,549,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Private Wealth Management Group LLC raised its position in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $26,000. Riverview Trust Co raised its position in shares of Elevance Health by 1,340.0% during the first 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. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $29,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Down 8.5%

ELV stock traded down $25.58 during midday trading on Friday, reaching $276.87. The company's stock had a trading volume of 8,379,827 shares, compared to its average volume of 1,676,997. Elevance Health, Inc. has a 52 week low of $276.57 and a 52 week high of $567.26. The stock has a market cap of $62.55 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. 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's 50-day simple moving average is $374.07 and its 200-day simple moving average is $396.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $10.12 earnings per share. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.47%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Analyst Ratings Changes

Several research firms recently issued reports on ELV. Leerink Partners reissued a "market perform" rating and issued a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday. Wells Fargo & Company dropped their price target on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research report on Tuesday. Mizuho increased their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $441.81.

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.