LVW Advisors LLC Grows Position in Elevance Health, Inc. (NYSE:ELV)

LVW Advisors LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 34.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 714 shares of the company’s stock after acquiring an additional 181 shares during the quarter. LVW Advisors LLC’s holdings in Elevance Health were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ELV. Richwood Investment Advisors LLC increased its stake in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares during the last quarter. Bell Investment Advisors Inc increased its stake in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares during the last quarter. Alliance Wealth Advisors LLC increased its stake in shares of Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after acquiring an additional 21 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after acquiring an additional 21 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after acquiring an additional 22 shares during 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 on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now 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 is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELV. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Wednesday, June 12th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. One equities 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. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $611.36.

Elevance Health Trading Up 1.1 %

ELV opened at $541.86 on Monday. The firm has a market cap of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The business’s 50 day moving average is $534.36 and its two-hundred day moving average is $508.99. 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:ELV) last released its quarterly earnings results 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 analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.46 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is currently 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.