Wealth Enhancement Advisory Services LLC Raises Position in Elevance Health, Inc. (NYSE:ELV)

Wealth Enhancement Advisory Services LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,566 shares of the company's stock after purchasing an additional 7,410 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Elevance Health were worth $11,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its stake in shares of Elevance Health by 27.7% in the first quarter. CVA Family Office LLC now owns 562 shares of the company's stock worth $244,000 after buying an additional 122 shares during the period. Elevation Point Wealth Partners LLC increased its stake in shares of Elevance Health by 28.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,275 shares of the company's stock worth $2,295,000 after buying an additional 1,160 shares during the period. Tudor Financial Inc. purchased a new position in shares of Elevance Health in the first quarter worth $210,000. Stanley Laman Group Ltd. increased its stake in shares of Elevance Health by 9.1% in the first quarter. Stanley Laman Group Ltd. now owns 8,955 shares of the company's stock worth $3,895,000 after buying an additional 747 shares during the period. Finally, Everhart Financial Group Inc. purchased a new position in shares of Elevance Health in the first quarter worth $518,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $373.71 on Monday. The stock has a market cap of $84.43 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. The company's fifty day moving average price is $398.68 and its 200-day moving average price is $399.15. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Finally, Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Four equities 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 a consensus rating of "Moderate Buy" and an average price target of $498.87.

Insider Buying and Selling at Elevance Health

In related 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 value of $1,949,074.16. Following the transaction, 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 SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

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.

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