Palisade Asset Management LLC Acquires Shares of 54 Elevance Health, Inc. (NYSE:ELV)

Palisade Asset Management LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 54 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also bought and sold shares of the stock. PDS Planning Inc lifted its stake in Elevance Health by 7.2% during the 1st quarter. PDS Planning Inc now owns 1,629 shares of the company’s stock valued at $845,000 after acquiring an additional 110 shares in the last quarter. Fortem Financial Group LLC lifted its stake in Elevance Health by 6.3% during the 1st quarter. Fortem Financial Group LLC now owns 2,420 shares of the company’s stock valued at $1,255,000 after acquiring an additional 144 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in Elevance Health during the 1st quarter valued at $227,000. Janney Montgomery Scott LLC raised its stake in shares of Elevance Health by 5.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,453 shares of the company’s stock worth $14,754,000 after purchasing an additional 1,519 shares during the period. Finally, Intelligence Driven Advisers LLC bought a new stake in shares of Elevance Health during the 1st quarter worth $311,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.0 %

ELV stock opened at $530.31 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $123.25 billion, a PE ratio of 20.04, a PEG ratio of 1.17 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34. The stock has a 50-day simple moving average of $534.08 and a two-hundred day simple moving average of $511.24.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were given a $1.63 dividend. 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 1.23%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value 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 approximately $16,791,460.40. The transaction 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.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Wednesday, June 12th. Jefferies Financial Group lifted their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Stephens reiterated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research note on Tuesday, June 11th. JPMorgan Chase & Co. lifted their target price on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Buy” and a consensus price target of $611.36.

Get Our Latest Stock Analysis on Elevance Health

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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