Sowell Financial Services LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,534 shares of the company's stock, valued at approximately $667,000.
Other hedge funds and other institutional investors 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 worth about $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the fourth quarter worth $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.
Elevance Health Stock Performance
ELV traded down $2.20 on Friday, reaching $373.71. The company had a trading volume of 2,939,325 shares, compared to its average volume of 1,568,658. The stock has a market cap of $84.43 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.96 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company's fifty day moving average is $400.00 and its 200 day moving average is $399.36.
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, beating the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal 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 given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.83%. Elevance Health's payout ratio is presently 26.69%.
Insider Activity at Elevance Health
In related news, CFO Mark Kaye sold 4,588 shares of the 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 sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Royal Bank Of Canada reissued 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 reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $498.87.
Get Our Latest Report 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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