Simon Quick Advisors LLC Buys Shares of 773 Elevance Health, Inc. (NYSE:ELV)

Simon Quick Advisors LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 773 shares of the company's stock, valued at approximately $336,000.

A number of other hedge funds also recently modified their holdings of the business. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $26,000. Riverview Trust Co boosted its stake in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business'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 value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELV. 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. Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health Trading Down 0.4%

Shares of ELV traded down $1.73 during trading hours on Friday, hitting $384.49. The company had a trading volume of 958,480 shares, compared to its average volume of 1,558,216. The firm has a market cap of $86.87 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. The stock's 50 day moving average price is $404.71 and its 200 day moving average price is $400.17. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Elevance Health 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.