Buffington Mohr McNeal Purchases 1,601 Shares of Elevance Health, Inc. (NYSE:ELV)

Buffington Mohr McNeal increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,219 shares of the company’s stock after purchasing an additional 1,601 shares during the quarter. Buffington Mohr McNeal’s holdings in Elevance Health were worth $4,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Norges Bank bought a new stake in Elevance Health during the fourth quarter worth about $1,347,434,000. Massachusetts Financial Services Co. MA bought a new position in shares of Elevance Health in the fourth quarter worth about $467,141,000. Canoe Financial LP lifted its holdings in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after acquiring an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $239,244,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.3 %

Shares of ELV stock traded up $1.37 during trading hours on Tuesday, hitting $535.92. 1,035,386 shares of the company were exchanged, compared to its average volume of 1,026,488. The firm has a market cap of $124.56 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week 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. The company has a 50 day simple moving average of $534.41 and a two-hundred day simple moving average of $509.38.

Elevance Health (NYSE:ELV) last announced 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm posted $9.46 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health 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 sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Stephens reiterated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Tuesday, June 11th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $611.36.

About Elevance Health

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.