Wealth Enhancement Advisory Services LLC Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Wealth Enhancement Advisory Services LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,344 shares of the company’s stock after purchasing an additional 877 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Elevance Health were worth $5,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Wealthcare Advisory Partners LLC increased its holdings in Elevance Health by 21.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,459 shares of the company’s stock worth $757,000 after buying an additional 254 shares during the last quarter. DGS Capital Management LLC increased its holdings in Elevance Health by 88.7% during the first quarter. DGS Capital Management LLC now owns 2,174 shares of the company’s stock worth $1,127,000 after buying an additional 1,022 shares during the last quarter. Eagle Rock Investment Company LLC increased its holdings in Elevance Health by 3.6% during the first quarter. Eagle Rock Investment Company LLC now owns 11,578 shares of the company’s stock worth $6,003,000 after buying an additional 406 shares during the last quarter. Chemistry Wealth Management LLC increased its holdings in Elevance Health by 3.1% during the first quarter. Chemistry Wealth Management LLC now owns 6,060 shares of the company’s stock worth $3,143,000 after buying an additional 183 shares during the last quarter. Finally, First Financial Corp IN increased its holdings in Elevance Health by 478.3% during the first quarter. First Financial Corp IN now owns 694 shares of the company’s stock worth $360,000 after buying an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.3 %

ELV stock opened at $534.75 on Tuesday. The company has a market capitalization of $124.29 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The company’s 50 day moving average price is $534.36 and its two-hundred day moving average price is $508.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last posted 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 firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $9.46 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling

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 transaction, 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 legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Wednesday, June 12th. UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Robert W. Baird assumed coverage on shares of Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price for the company. 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, Elevance Health presently has a consensus rating of “Buy” and a consensus 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.