Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,165 shares of the company's stock after purchasing an additional 2,815 shares during the period. Timber Creek Capital Management LLC's holdings in Elevance Health were worth $4,421,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Milestone Asset Management LLC lifted its stake in Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc lifted its stake in Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after acquiring an additional 26 shares during the period. Checchi Capital Advisers LLC lifted its stake in Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares during the period. Barlow Wealth Partners Inc. lifted its stake in Elevance Health by 1.3% in the first quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after acquiring an additional 30 shares during the period. Finally, McLean Asset Management Corp lifted its stake in Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $498.87.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV traded down $1.33 during midday trading on Friday, hitting $348.92. The company's stock had a trading volume of 2,006,213 shares, compared to its average volume of 1,607,108. Elevance Health, Inc. has a fifty-two week low of $347.21 and a fifty-two week high of $567.26. The firm's 50 day moving average is $387.65 and its 200-day moving average is $398.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $78.83 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.88 and a beta of 0.60.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors 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 annualized dividend and a yield of 1.96%. Elevance Health's dividend payout ratio (DPR) is presently 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.