Hunter Perkins Capital Management LLC Has $5.37 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Hunter Perkins Capital Management LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 32.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,351 shares of the company's stock after acquiring an additional 3,048 shares during the quarter. Elevance Health accounts for about 1.2% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Hunter Perkins Capital Management LLC's holdings in Elevance Health were worth $5,372,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Illinois Municipal Retirement Fund increased its stake in Elevance Health by 18.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 54,602 shares of the company's stock worth $23,750,000 after purchasing an additional 8,496 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of Elevance Health by 27.0% in the first quarter. Transcend Capital Advisors LLC now owns 822 shares of the company's stock valued at $358,000 after buying an additional 175 shares during the period. Diversified Trust Co increased its position in shares of Elevance Health by 18.5% during the first quarter. Diversified Trust Co now owns 26,755 shares of the company's stock worth $11,637,000 after acquiring an additional 4,179 shares in the last quarter. First Merchants Corp raised its holdings in shares of Elevance Health by 21.0% during the first quarter. First Merchants Corp now owns 1,914 shares of the company's stock worth $833,000 after acquiring an additional 332 shares during the period. Finally, Perpetual Ltd lifted its position in Elevance Health by 9,383.2% in the 1st quarter. Perpetual Ltd now owns 96,634 shares of the company's stock valued at $42,032,000 after acquiring an additional 95,615 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Up 2.2%

Shares of NYSE ELV traded up $8.07 during trading hours on Friday, hitting $381.25. The company had a trading volume of 1,774,243 shares, compared to its average volume of 1,578,161. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm's 50 day moving average is $393.84 and its 200-day moving average is $398.61. The stock has a market capitalization of $86.14 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Truist Financial set a $500.00 target price on Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $498.87.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on 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. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

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.