TD Private Client Wealth LLC Acquires 1,351 Shares of Elevance Health, Inc. (NYSE:ELV)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Norges Bank bought a new position in shares of Elevance Health during the 4th quarter valued at $1,135,014,000. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after purchasing an additional 895,658 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Guggenheim reiterated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays lowered their target price on shares of Elevance Health from $480.00 to $434.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $495.80.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE ELV traded down $1.05 during midday trading on Thursday, hitting $345.31. The company had a trading volume of 2,218,448 shares, compared to its average volume of 1,627,887. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a market cap of $78.02 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.88 and a beta of 0.60. The firm has a fifty day simple moving average of $383.53 and a two-hundred day simple moving average of $397.80. Elevance Health, Inc. has a fifty-two week low of $339.71 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Elevance Health Company 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.