HF Advisory Group LLC Has $2.53 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

HF Advisory Group LLC increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,825 shares of the company's stock after acquiring an additional 755 shares during the period. Elevance Health makes up approximately 1.1% of HF Advisory Group LLC's investment portfolio, making the stock its 26th biggest position. HF Advisory Group LLC's holdings in Elevance Health were worth $2,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Elevance Health in the 4th quarter valued at about $1,135,014,000. Wellington Management Group LLP lifted its stake in Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC lifted its stake in Elevance Health by 81,726.5% during the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Elevance Health by 47.6% during 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 grew its position in 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 during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Mizuho raised their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Finally, Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $499.53.

Elevance Health Stock Up 2.4%

Shares of NYSE:ELV traded up $9.05 during trading on Friday, reaching $393.70. 2,749,668 shares of the company traded hands, compared to its average volume of 1,544,064. The firm has a fifty day simple moving average of $410.29 and a 200 day simple moving average of $400.80. 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 firm has a market cap of $88.95 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.