Elevance Health, Inc. (NYSE:ELV) Holdings Raised by Insight Folios Inc

Insight Folios Inc grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 708 shares of the company’s stock after purchasing an additional 85 shares during the period. Insight Folios Inc’s holdings in Elevance Health were worth $367,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Axxcess Wealth Management LLC purchased a new stake in Elevance Health in the 3rd quarter worth about $556,000. Alps Advisors Inc. lifted its stake in Elevance Health by 545.2% in the 3rd quarter. Alps Advisors Inc. now owns 7,929 shares of the company’s stock worth $3,452,000 after acquiring an additional 6,700 shares in the last quarter. Eminence Capital LP lifted its stake in Elevance Health by 2.1% in the 3rd quarter. Eminence Capital LP now owns 165,812 shares of the company’s stock worth $72,198,000 after acquiring an additional 3,416 shares in the last quarter. Legacy Advisors LLC lifted its stake in Elevance Health by 562.2% in the 3rd quarter. Legacy Advisors LLC now owns 5,569 shares of the company’s stock worth $2,425,000 after acquiring an additional 4,728 shares in the last quarter. Finally, LRT Capital Management LLC lifted its stake in Elevance Health by 2.2% in the 3rd quarter. LRT Capital Management LLC now owns 3,665 shares of the company’s stock worth $1,596,000 after acquiring an additional 80 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated 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 $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELV. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. 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. Royal Bank of Canada raised their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $611.36.

Elevance Health Price Performance

ELV stock traded down $5.53 during trading on Thursday, hitting $530.39. The company had a trading volume of 656,207 shares, compared to its average volume of 818,063. The company has a fifty day moving average price of $534.40 and a two-hundred day moving average price of $510.00. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $123.27 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.18 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.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.46 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Elevance Health Company Profile

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.