Janney Montgomery Scott LLC Acquires 3,563 Shares of Elevance Health, Inc. (NYSE:ELV)

Janney Montgomery Scott LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,777 shares of the company's stock after purchasing an additional 3,563 shares during the period. Janney Montgomery Scott LLC's holdings in Elevance Health were worth $20,781,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new position in Elevance Health during the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $26,000. OFI Invest Asset Management acquired a new position in Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter worth $30,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Truist Financial set a $500.00 price target on Elevance Health and gave the stock a "buy" rating in a research report on Monday, June 9th. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Price Performance

Shares of ELV stock traded up $0.39 during mid-day trading on Thursday, reaching $375.58. The company's stock had a trading volume of 1,155,072 shares, compared to its average volume of 1,563,131. The firm's 50-day moving average is $401.21 and its two-hundred day moving average is $399.60. The company has a market cap of $84.86 billion, a P/E ratio of 14.65, a PEG ratio of 0.95 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

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. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current 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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's 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 transaction, the chief financial officer now directly owns 18,977 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at 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.