Professional Financial Advisors LLC Buys 925 Shares of Elevance Health, Inc. (NYSE:ELV)

Professional Financial Advisors LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 32.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,776 shares of the company's stock after buying an additional 925 shares during the quarter. Professional Financial Advisors LLC's holdings in Elevance Health were worth $1,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ELV. Accredited Wealth Management LLC bought a new position in Elevance Health in the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health during the fourth quarter valued at $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $8.07 during trading on Friday, reaching $381.25. 1,774,243 shares of the company traded hands, compared to its average volume of 1,582,460. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $393.84 and a 200-day simple moving average of $398.61. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The stock has a market capitalization of $86.14 billion, a PE ratio of 14.88, a P/E/G ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ELV shares. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.