1,266 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,266 shares of the company's stock, valued at approximately $548,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health in the fourth quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health in the 4th quarter worth about $26,000. Riverview Trust Co increased its holdings in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the period. WealthTrak Capital Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Elevance Health Stock Up 2.2%

NYSE:ELV traded up $8.07 on Friday, reaching $381.25. The stock had a trading volume of 1,774,243 shares, compared to its average volume of 1,581,942. The stock has a market cap of $86.14 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a 50-day moving average of $392.98 and a 200 day moving average of $398.64. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Barclays dropped their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Guggenheim reiterated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $498.87.

About Elevance Health

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.