1,266 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,266 shares of the company’s stock, valued at approximately $548,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Private Wealth Group LLC increased its stake in shares of Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after acquiring an additional 326,543 shares during the period. VELA Investment Management LLC grew its position in Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the period. CWA Asset Management Group LLC acquired a new stake in Elevance Health during the first quarter worth about $299,000. Mn Services Vermogensbeheer B.V. grew its holdings in Elevance Health by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 93,000 shares of the company’s stock worth $34,308,000 after acquiring an additional 2,300 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company’s stock worth $1,341,000 after acquiring an additional 2,004 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.6%

ELV stock opened at $374.23 on Thursday. 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 $357.45 and a 12-month high of $567.26. The stock has a market cap of $84.55 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.96 and a beta of 0.60. The business’s 50-day moving average is $394.86 and its 200 day moving average is $398.76.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share 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 the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.83%. Elevance Health’s payout ratio is currently 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 that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. 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. Barclays dropped their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Argus set a $465.00 target price on Elevance Health in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus 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.