Brown Advisory Inc. Has $185 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Brown Advisory Inc. raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,326 shares of the company's stock after acquiring an additional 1,283 shares during the period. Brown Advisory Inc. owned approximately 0.19% of Elevance Health worth $184,999,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its holdings in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after acquiring an additional 326,543 shares during the period. CWA Asset Management Group LLC bought a new stake in Elevance Health during the first quarter valued at about $299,000. GAMMA Investing LLC boosted its holdings in Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after acquiring an additional 1,588 shares during the period. Ritholtz Wealth Management raised its position in shares of Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after buying an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Elevance Health by 36.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock valued at $11,991,000 after buying an additional 7,410 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Elevance Health stock traded up $2.37 during trading hours on Tuesday, hitting $349.25. 1,619,476 shares of the stock were exchanged, compared to its average volume of 1,613,017. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $78.91 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $343.72 and a 12 month high of $567.26. The business's 50-day moving average is $386.32 and its two-hundred day moving average is $398.50.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results 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 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 analysts' expectations of $46.26 billion. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Activity at Elevance Health

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 transaction of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ELV shares. Barclays cut their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. 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. Finally, Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Company 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.