Wealthcare Advisory Partners LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Wealthcare Advisory Partners LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 21.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,459 shares of the company’s stock after purchasing an additional 254 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Elevance Health were worth $757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. DGS Capital Management LLC raised its stake in Elevance Health by 88.7% in the first quarter. DGS Capital Management LLC now owns 2,174 shares of the company’s stock worth $1,127,000 after buying an additional 1,022 shares in the last quarter. Eagle Rock Investment Company LLC raised its position in shares of Elevance Health by 3.6% in the 1st quarter. Eagle Rock Investment Company LLC now owns 11,578 shares of the company’s stock worth $6,003,000 after acquiring an additional 406 shares in the last quarter. Chemistry Wealth Management LLC lifted its stake in shares of Elevance Health by 3.1% in the 1st quarter. Chemistry Wealth Management LLC now owns 6,060 shares of the company’s stock valued at $3,143,000 after purchasing an additional 183 shares during the period. First Financial Corp IN boosted its position in shares of Elevance Health by 478.3% during the first quarter. First Financial Corp IN now owns 694 shares of the company’s stock valued at $360,000 after purchasing an additional 574 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in Elevance Health by 38.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,169 shares of the company’s stock worth $3,199,000 after purchasing an additional 1,719 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $541.86 on Friday. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The stock has a 50-day moving average of $534.36 and a 200 day moving average of $508.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $125.94 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm posted $9.46 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Morgan Stanley assumed coverage on Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Finally, Robert W. Baird began coverage on Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $611.36.

View Our Latest Analysis on Elevance Health

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

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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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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