Leavell Investment Management Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 30.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,113 shares of the company's stock after selling 1,350 shares during the period. Leavell Investment Management Inc.'s holdings in Elevance Health were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter worth $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter worth $26,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the 4th quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter worth $30,000. Finally, Riverview Trust Co raised its holdings in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
Elevance Health Trading Down 1.7%
NYSE ELV traded down $5.82 during trading hours on Friday, hitting $340.04. 1,698,140 shares of the company were exchanged, compared to its average volume of 1,631,093. The stock has a 50-day moving average price of $380.88 and a 200 day moving average price of $397.40. 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, Inc. has a 52 week low of $337.61 and a 52 week high of $567.26. The stock has a market cap of $76.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60.
Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.
Analysts Set New Price Targets
A number of equities analysts recently commented on ELV shares. Argus set a $465.00 target price on Elevance Health in a report on Friday, April 25th. Robert W. Baird reissued 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 cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $495.80.
View Our Latest Analysis on Elevance Health
Insider Activity
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was 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 owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.
Elevance Health Profile
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Free Report)
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.
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