Lbp Am Sa Buys Shares of 2,914 Elevance Health, Inc. (NYSE:ELV)

LBP AM SA bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,914 shares of the company's stock, valued at approximately $1,267,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Milestone Asset Management LLC boosted its position in shares of Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc boosted its position in shares of Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after acquiring an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after acquiring an additional 27 shares during the period. Barlow Wealth Partners Inc. boosted its position in shares of Elevance Health by 1.3% in the first quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock valued at $961,000 after acquiring an additional 30 shares during the period. Finally, McLean Asset Management Corp boosted its position in shares of Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock valued at $620,000 after acquiring an additional 32 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $0.90 during midday trading on Monday, hitting $339.77. The company had a trading volume of 1,652,402 shares, compared to its average volume of 1,633,863. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $76.77 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.87 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $335.24 and a 12-month high of $567.26. The company has a fifty day moving average of $380.88 and a two-hundred day moving average of $397.73.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 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 return on equity of 18.61% and a net margin of 3.23%. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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 $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Insider Activity 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 directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. UBS Group reiterated a "buy" rating and set a $484.00 target price (down from $555.00) on shares of Elevance Health in a research report on Monday. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $491.07.

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.