Tobam Sells 86 Shares of Elevance Health, Inc. (NYSE:ELV)

Tobam decreased its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,455 shares of the company’s stock after selling 86 shares during the quarter. Tobam’s holdings in Elevance Health were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. abrdn plc grew its position in shares of Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares in the last quarter. Cerity Partners LLC grew its position in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Canoe Financial LP grew its position in shares of Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth about $218,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Elevance Health by 114.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.1 %

ELV traded up $0.48 during trading on Monday, hitting $530.79. 13,603 shares of the stock were exchanged, compared to its average volume of 1,013,872. The firm has a 50 day simple moving average of $534.08 and a 200 day simple moving average of $511.24. The firm has a market cap of $123.37 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.17 and a beta of 0.84. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $9.46 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.23%. Elevance Health’s payout ratio is currently 24.64%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Bank of America increased their price target on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Morgan Stanley assumed coverage on Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. Mizuho raised their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective for the company. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $611.36.

Get Our Latest Stock Report on Elevance Health

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction 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 transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Company Profile

(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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