Ritholtz Wealth Management Buys 2,004 Shares of Elevance Health, Inc. (NYSE:ELV)

Ritholtz Wealth Management raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 185.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,083 shares of the company's stock after buying an additional 2,004 shares during the quarter. Ritholtz Wealth Management's holdings in Elevance Health were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its stake in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. VELA Investment Management LLC increased its holdings in Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after purchasing an additional 1,045 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Elevance Health by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 93,000 shares of the company's stock worth $34,308,000 after purchasing an additional 2,300 shares in the last quarter. Allworth Financial LP boosted its stake in Elevance Health by 103.9% in the fourth quarter. Allworth Financial LP now owns 2,688 shares of the company's stock worth $1,050,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Elevance Health by 16.4% during the fourth quarter. Van ECK Associates Corp now owns 14,884 shares of the company's stock worth $5,491,000 after purchasing an additional 2,102 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Up 0.1%

ELV traded up $0.39 during trading on Wednesday, reaching $375.58. 1,155,071 shares of the stock were exchanged, compared to its average volume of 1,559,647. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock's 50 day moving average price is $402.42 and its two-hundred day moving average price is $399.76. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The stock has a market cap of $84.86 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60.

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

Elevance Health Dividend Announcement

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. 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 1.82%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ELV shares. Mizuho upped their price target 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. 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $498.87.

Insider Buying and Selling at Elevance Health

In other 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 completion of the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company's stock.

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.