Kathmere Capital Management LLC Buys 1,592 Shares of Elevance Health, Inc. (NYSE:ELV)

Kathmere Capital Management LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 146.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,677 shares of the company's stock after acquiring an additional 1,592 shares during the period. Kathmere Capital Management LLC's holdings in Elevance Health were worth $1,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ELV. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter worth about $1,135,014,000. Wellington Management Group LLP lifted its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Elevance Health by 81,726.5% in the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after buying an additional 1,472,712 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 1.7%

Shares of NYSE ELV traded down $5.82 during midday trading on Friday, hitting $340.04. The company's stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,631,093. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $380.88 and its two-hundred day moving average is $397.40. Elevance Health, Inc. has a 12-month low of $337.61 and a 12-month high of $567.26. The firm has a market cap of $76.83 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 2.01%. Elevance Health's payout ratio is currently 26.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ELV shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Mizuho boosted their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim reiterated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $495.80.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.