Moss Adams Wealth Advisors LLC Invests $369,000 in Elevance Health, Inc. (NYSE:ELV)

Moss Adams Wealth Advisors LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 848 shares of the company's stock, valued at approximately $369,000.

A number of other hedge funds have also bought and sold shares of ELV. Accredited Wealth Management LLC bought a new position in Elevance Health during the fourth quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter worth about $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $30,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $5.64 during trading hours on Tuesday, hitting $383.97. 1,676,837 shares of the company's stock traded hands, compared to its average volume of 1,551,731. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a fifty day simple moving average of $408.71 and a 200-day simple moving average of $400.71. The stock has a market capitalization of $86.75 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

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, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. Elevance Health's payout ratio is 26.69%.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on 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 now directly owns 18,977 shares in the company, 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. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ELV. Guggenheim reiterated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Argus set a $465.00 target price on Elevance Health in a research report on Friday, April 25th. Barclays reduced 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. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

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.