ZWJ Investment Counsel Inc. Acquires 5,106 Shares of Elevance Health, Inc. (NYSE:ELV)

ZWJ Investment Counsel Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,832 shares of the company's stock after buying an additional 5,106 shares during the quarter. Elevance Health comprises 2.2% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 16th biggest position. ZWJ Investment Counsel Inc. owned about 0.05% of Elevance Health worth $53,427,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. 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. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho increased their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Stock Performance

Elevance Health stock traded down $1.33 during trading hours on Friday, reaching $348.92. 2,006,213 shares of the company were exchanged, compared to its average volume of 1,607,108. Elevance Health, Inc. has a 12 month low of $347.21 and a 12 month high of $567.26. The firm has a market cap of $78.83 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.89 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. The stock has a 50-day moving average of $389.10 and a 200 day moving average of $398.31.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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 business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insiders Place Their Bets

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. 0.29% of the stock is owned by corporate insiders.

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.