Valeo Financial Advisors LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Valeo Financial Advisors LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,842 shares of the company’s stock after selling 233 shares during the period. Valeo Financial Advisors LLC’s holdings in Elevance Health were worth $2,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Richwood Investment Advisors LLC boosted its position in Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares during the period. Bell Investment Advisors Inc boosted its position in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the period. Capital Advisors Ltd. LLC boosted its position in Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares during the period. Alliance Wealth Advisors LLC boosted its position in Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after buying an additional 21 shares during the period. Finally, Fiduciary Alliance LLC boosted its position in Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.1 %

NYSE ELV opened at $530.22 on Thursday. 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 firm has a market cap of $123.23 billion, a PE ratio of 20.04, a P/E/G 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 firm’s fifty day moving average is $534.47 and its two-hundred day moving average is $509.86.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating 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 net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $9.46 earnings per share. Analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens reaffirmed an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Tuesday, June 11th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Wednesday, June 12th. Finally, Bank of America lifted their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $611.36.

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.