Atlas Brown Inc. Acquires Shares of 407 Elevance Health, Inc. (NYSE:ELV)

Atlas Brown Inc. bought a new position in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 407 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sanders Capital LLC increased its holdings in shares of Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares in the last quarter. Capital International Investors increased its holdings in shares of Elevance Health by 7.9% in the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after purchasing an additional 248,150 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares in the last quarter. Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter worth $1,347,434,000. Finally, Morgan Stanley increased its holdings in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $527.31 on Thursday. The stock’s 50-day simple moving average is $530.65 and its 200-day simple moving average is $506.05. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a market capitalization of $122.56 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.17 and a beta of 0.83. 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 announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the business earned $9.46 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

Several analysts recently commented on ELV shares. UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company lifted their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Barclays lifted their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $607.36.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

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.