Elevation Point Wealth Partners LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,275 shares of the company's stock after purchasing an additional 1,160 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Elevance Health were worth $2,295,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter worth $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter worth $29,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
ELV has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Mizuho lifted their target price 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. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Finally, Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.
Check Out Our Latest Analysis on Elevance Health
Elevance Health Price Performance
NYSE:ELV traded down $1.73 during trading hours on Friday, hitting $384.49. 958,480 shares of the stock traded hands, compared to its average volume of 1,554,321. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The company has a market cap of $86.87 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The stock has a 50 day moving average price of $404.71 and a 200 day moving average price of $400.19.
Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. Elevance Health's dividend payout ratio is presently 26.69%.
Insiders Place Their Bets
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
About Elevance Health
(
Free Report)
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.
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