Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,853 shares of the company’s stock after purchasing an additional 86 shares during the period. Wedmont Private Capital’s holdings in Elevance Health were worth $953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter worth approximately $28,000. Alaska Permanent Fund Corp purchased a new stake in Elevance Health during the fourth quarter worth approximately $31,000. Beaird Harris Wealth Management LLC purchased a new stake in Elevance Health during the fourth quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its stake in Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares during the period. Finally, ORG Partners LLC purchased a new stake in Elevance Health during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ELV shares. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Wednesday, June 12th. Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group boosted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $607.36.

Insider Activity at Elevance Health

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

Elevance Health Trading Down 0.1 %

ELV opened at $534.42 on Friday. The stock has a market capitalization of $124.21 billion, a PE ratio of 20.20, a P/E/G ratio of 1.17 and a beta of 0.83. The firm’s fifty day moving average price is $532.04 and its 200 day moving average price is $506.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $550.34.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $9.46 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 37.2 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio 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.