World Investment Advisors boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,446 shares of the company's stock after purchasing an additional 2,909 shares during the period. World Investment Advisors' holdings in Elevance Health were worth $10,198,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the 4th quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health in the 4th quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other 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 transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company's stock.
Elevance Health Stock Performance
Shares of ELV stock traded down $1.33 during trading hours on Friday, hitting $348.92. The company's stock had a trading volume of 2,006,213 shares, compared to its average volume of 1,610,408. The company has a 50 day moving average of $387.65 and a 200 day moving average of $398.19. The stock has a market cap of $78.83 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. 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, Inc. has a 12-month low of $347.21 and a 12-month high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $48.77 billion during 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, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. 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 1.96%. Elevance Health's payout ratio is currently 26.69%.
Analyst Ratings Changes
A number of research firms have recently commented on ELV. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Barclays lowered their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research note on Monday, June 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $498.87.
Read Our Latest Analysis on ELV
About Elevance Health
(
Free Report)
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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