Evergreen Wealth Management LLC Buys 1,673 Shares of Elevance Health, Inc. (NYSE:ELV)

Evergreen Wealth Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,414 shares of the company's stock after acquiring an additional 1,673 shares during the period. Elevance Health accounts for about 3.0% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 11th largest position. Evergreen Wealth Management LLC's holdings in Elevance Health were worth $4,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $25,000. Private Wealth Management Group LLC boosted its holdings in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares during the period. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health in the fourth quarter worth $30,000. Finally, Riverview Trust Co raised its position in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Elevance Health Trading Down 8.5%

Shares of ELV traded down $25.58 during trading hours on Friday, hitting $276.87. The company had a trading volume of 8,379,827 shares, compared to its average volume of 1,670,815. The firm has a market cap of $62.55 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.88 and a beta of 0.60. The stock's 50 day moving average price is $371.52 and its 200 day moving average price is $395.63. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 52-week low of $276.41 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date of this dividend 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 29.11%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research note on Friday. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Barclays reduced their price target on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Finally, Mizuho boosted their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.93.

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.