Stanley Laman Group Ltd. Purchases 747 Shares of Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,955 shares of the company's stock after purchasing an additional 747 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Elevance Health were worth $3,895,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ELV. Everhart Financial Group Inc. bought a new position in shares of Elevance Health during the 1st quarter worth about $518,000. Bar Harbor Wealth Management acquired a new position in Elevance Health in the first quarter worth about $217,000. Smithbridge Asset Management Inc. DE bought a new position in Elevance Health during the first quarter worth about $1,143,000. Relyea Zuckerberg Hanson LLC acquired a new stake in Elevance Health during the first quarter valued at approximately $258,000. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Elevance Health by 2.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 33,854 shares of the company's stock valued at $14,725,000 after purchasing an additional 818 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Trading Down 0.4%

ELV traded down $1.73 during mid-day trading on Friday, reaching $384.49. The stock had a trading volume of 958,480 shares, compared to its average volume of 1,558,216. The firm's fifty day simple moving average is $404.71 and its two-hundred day simple moving average is $400.17. The stock has a market capitalization of $86.87 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

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 (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 completion of the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELV. Mizuho boosted their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Barclays lowered their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $498.87.

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.