TD Private Client Wealth LLC Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

TD Private Client Wealth LLC grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,035 shares of the company's stock after purchasing an additional 1,351 shares during the quarter. TD Private Client Wealth LLC's holdings in Elevance Health were worth $1,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position 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 acquiring an additional 326,543 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at $299,000. GAMMA Investing LLC boosted its stake in shares of Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Elevance Health by 185.7% in the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Elevance Health by 36.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after buying an additional 7,410 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ELV. Barclays dropped their price objective on Elevance Health from $480.00 to $434.00 and set an "overweight" rating for the company in a report on Wednesday. Guggenheim reaffirmed a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Truist Financial set a $500.00 price target on Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $495.80.

Elevance Health Trading Down 1.7%

Shares of ELV traded down $5.82 during mid-day trading on Friday, reaching $340.04. 1,697,800 shares of the company were exchanged, compared to its average volume of 1,745,322. The stock has a market capitalization of $76.83 billion, a PE ratio of 13.27, a PEG ratio of 0.88 and a beta of 0.60. The business has a 50 day simple moving average of $382.27 and a two-hundred day simple moving average of $397.62. 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 52 week low of $337.61 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during 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%. On average, 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 was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. Elevance Health's payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In other 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 completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.