Smithbridge Asset Management Inc. DE purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,627 shares of the company's stock, valued at approximately $1,143,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new position in Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.
Insider Transactions at Elevance Health
In other news, CFO Mark Kaye sold 4,588 shares of the firm'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 owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.
Elevance Health Stock Down 0.4%
NYSE:ELV traded down $1.73 during trading hours on Friday, hitting $384.49. The stock had a trading volume of 958,480 shares, compared to its average volume of 1,554,321. The company has a market cap of $86.87 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The business has a 50 day simple moving average of $405.63 and a two-hundred day simple moving average of $400.31. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.
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 for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Dividend Announcement
The firm 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 dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health's dividend payout ratio is presently 26.69%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Argus set a $465.00 target price on Elevance Health in a report on Friday, April 25th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Barclays decreased their target price on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $498.87.
Read Our Latest Analysis on Elevance Health
Elevance Health Company Profile
(
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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