Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,717 shares of the company's stock after acquiring an additional 913 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Elevance Health were worth $2,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ELV. Kovack Advisors Inc. grew its stake in Elevance Health by 32.3% during the 4th quarter. Kovack Advisors Inc. now owns 643 shares of the company's stock valued at $237,000 after purchasing an additional 157 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Elevance Health by 2.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,856 shares of the company's stock worth $2,898,000 after purchasing an additional 158 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Elevance Health by 2.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,621 shares of the company's stock valued at $2,074,000 after purchasing an additional 122 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $11,109,000. Finally, Sage Investment Counsel LLC purchased a new stake in Elevance Health during the fourth quarter worth $321,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 10.6%

Shares of NYSE:ELV traded down $41.86 during trading on Wednesday, reaching $353.90. 3,303,938 shares of the stock were exchanged, compared to its average volume of 1,594,590. Elevance Health, Inc. has a 12-month low of $353.22 and a 12-month high of $567.26. The firm's 50-day moving average price is $392.25 and its 200 day moving average price is $398.81. The firm has a market cap of $79.96 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ELV shares. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Barclays dropped their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $498.87.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the 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 directly owned 18,977 shares in the company, valued at $8,061,809.14. This trade represents 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. 0.29% of the stock is owned by insiders.

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.