Elevance Health, Inc. (NYSE:ELV) Position Increased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 37.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,939 shares of the company's stock after purchasing an additional 801 shares during the period. Wealthcare Advisory Partners LLC's holdings in Elevance Health were worth $1,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health during the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 0.4%

Shares of ELV traded down $1.73 during trading hours on Friday, hitting $384.49. The stock had a trading volume of 958,480 shares, compared to its average volume of 1,553,939. The company's fifty day simple moving average is $405.63 and its 200 day simple moving average is $400.31. The firm has a market cap of $86.87 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month 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 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction 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 completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial set a $500.00 target price on Elevance Health and gave the stock a "buy" rating in a research report on Monday. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $498.87.

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.