Claro Advisors LLC Has $303,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Claro Advisors LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 23.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 584 shares of the company’s stock after acquiring an additional 112 shares during the quarter. Claro Advisors LLC’s holdings in Elevance Health were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co lifted its stake in Elevance Health by 6.6% in the first quarter. Diversified Trust Co now owns 21,744 shares of the company’s stock valued at $11,275,000 after buying an additional 1,348 shares during the period. LVW Advisors LLC boosted its stake in Elevance Health by 34.0% during the 1st quarter. LVW Advisors LLC now owns 714 shares of the company’s stock worth $370,000 after acquiring an additional 181 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in Elevance Health in the first quarter valued at approximately $204,000. Fiduciary Alliance LLC raised its holdings in Elevance Health by 3.6% in the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after purchasing an additional 21 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its position in shares of Elevance Health by 11.9% during the first quarter. Cornerstone Wealth Group LLC now owns 1,052 shares of the company’s stock worth $546,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly 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 can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their target price on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. 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. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health 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 given a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and a consensus target price of $611.36.

Elevance Health Stock Down 1.3 %

Shares of ELV stock opened at $534.75 on Tuesday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-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 stock has a market cap of $124.29 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.20 and a beta of 0.84. The firm’s 50-day moving average is $534.36 and its 200-day moving average is $508.99.

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

Elevance Health Dividend Announcement

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

Elevance Health 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.