Jaffetilchin Investment Partners LLC Invests $401,000 in Elevance Health, Inc. (NYSE:ELV)

Jaffetilchin Investment Partners LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 923 shares of the company's stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. Kovack Advisors Inc. boosted its holdings in Elevance Health by 32.3% in the fourth quarter. Kovack Advisors Inc. now owns 643 shares of the company's stock valued at $237,000 after acquiring an additional 157 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,856 shares of the company's stock worth $2,898,000 after purchasing an additional 158 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Elevance Health by 2.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,621 shares of the company's stock valued at $2,074,000 after purchasing an additional 122 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth about $11,109,000. Finally, Sage Investment Counsel LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $321,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV stock traded up $7.93 during trading on Monday, hitting $389.42. 1,728,430 shares of the company's stock traded hands, compared to its average volume of 1,582,528. The stock has a market capitalization of $87.98 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The stock has a fifty day moving average price of $392.98 and a two-hundred day moving average price of $398.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Analyst Ratings Changes

ELV has been the subject of several research reports. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Barclays decreased their price target on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price 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 given a buy rating to the company's stock. According to data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Insider Buying and Selling at Elevance Health

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 value of $1,949,074.16. Following the sale, the chief financial officer owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Company Profile

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.