Simplicity Wealth LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,422 shares of the company's stock, valued at approximately $1,489,000.
A number of other hedge funds have also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter valued at about $26,000. Riverview Trust Co grew its stake in shares of Elevance Health by 1,340.0% in the first 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 purchased a new position in shares of Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.
Insider Buying and Selling at Elevance Health
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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company's stock.
Elevance Health Stock Performance
ELV stock traded up $2.71 during midday trading on Thursday, reaching $383.64. The company had a trading volume of 321,362 shares, compared to its average volume of 1,552,998. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The stock has a 50 day moving average price of $406.37 and a 200 day moving average price of $400.45. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $86.68 billion, a PE ratio of 14.98, a P/E/G ratio of 1.18 and a beta of 0.60.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. 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 will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.
Analyst Ratings Changes
Several analysts have recently issued reports on ELV shares. Guggenheim restated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird restated a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Barclays lowered their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.
Check Out Our Latest Research Report on Elevance Health
About Elevance Health
(
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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