Liberty One Investment Management LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,661 shares of the company's stock after buying an additional 1,582 shares during the period. Liberty One Investment Management LLC's holdings in Elevance Health were worth $4,637,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ELV. Accredited Wealth Management LLC bought a new stake in Elevance Health in the fourth quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in Elevance Health in the fourth quarter valued at about $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.
Elevance Health Trading Up 0.7%
NYSE ELV traded up $2.37 during trading hours on Tuesday, hitting $349.25. The company's stock had a trading volume of 1,619,476 shares, compared to its average volume of 1,613,017. The stock has a fifty day moving average of $386.32 and a 200 day moving average of $398.50. Elevance Health, Inc. has a twelve month low of $343.72 and a twelve month high of $567.26. The firm has a market capitalization of $78.91 billion, a P/E ratio of 13.63, a PEG 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.
Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.96%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.
Insiders Place Their Bets
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. Company insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ELV. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho upped their price objective 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. Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $498.87.
Check Out Our Latest Analysis on Elevance Health
Elevance Health Company Profile
(
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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