Everhart Financial Group Inc. purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,191 shares of the company's stock, valued at approximately $518,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors.
Elevance Health Stock Performance
Shares of NYSE ELV traded down $1.73 during midday trading on Friday, hitting $384.49. The company's stock had a trading volume of 958,480 shares, compared to its average volume of 1,554,321. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The firm has a market capitalization of $86.87 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a fifty 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 issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The business 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. This represents a $6.84 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial set a $500.00 price objective on Elevance Health and gave the stock a "buy" rating in a research report on Monday, June 9th. Guggenheim reaffirmed a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $498.87.
Read Our Latest Research Report on ELV
Insider Buying and Selling
In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated 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 now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.
Elevance Health Company Profile
(
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.
See Also
Before you consider Elevance Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elevance Health wasn't on the list.
While Elevance Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
