First Affirmative Financial Network Buys 28 Shares of Elevance Health, Inc. (NYSE:ELV)

First Affirmative Financial Network lifted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 927 shares of the company’s stock after purchasing an additional 28 shares during the quarter. First Affirmative Financial Network’s holdings in Elevance Health were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Paralel Advisors LLC raised its holdings in shares of Elevance Health by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 4,160 shares of the company’s stock worth $1,811,000 after acquiring an additional 47 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Elevance Health by 114.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 3,945 shares of the company’s stock worth $1,718,000 after acquiring an additional 2,109 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Elevance Health by 7.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,469 shares of the company’s stock worth $640,000 after acquiring an additional 100 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Elevance Health in the 3rd quarter worth about $1,307,000. Finally, Northern Trust Corp raised its holdings in shares of Elevance Health by 2.4% in the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock worth $1,052,175,000 after acquiring an additional 57,098 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV traded down $0.37 on Friday, hitting $534.42. The company’s stock had a trading volume of 1,855,122 shares, compared to its average volume of 1,046,021. The company’s 50 day simple moving average is $532.04 and its 200-day simple moving average is $506.60. The firm has a market cap of $124.21 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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 during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $9.46 EPS. Analysts forecast that Elevance Health, Inc. will post 37.2 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Bank of America increased their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Robert W. Baird began coverage on shares of 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 research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $607.36.

Get Our Latest Report on Elevance Health

Elevance Health 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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