Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Fiduciary Alliance LLC

Fiduciary Alliance LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.6% in the first quarter, HoldingsChannel reports. The firm owned 611 shares of the company’s stock after buying an additional 21 shares during the quarter. Fiduciary Alliance LLC’s holdings in Elevance Health were worth $315,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Richwood Investment Advisors LLC grew its stake in shares of Elevance Health by 0.8% in the fourth 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 in the last quarter. Bell Investment Advisors Inc boosted its holdings in Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Alliance Wealth Advisors LLC grew its stake in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in Elevance Health by 8.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after purchasing an additional 22 shares during the period. Finally, Capital Investment Advisors LLC raised its position in Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were 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 directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research note on Tuesday, June 11th. Morgan Stanley initiated coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Mizuho raised their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $611.36.

Elevance Health Stock Performance

NYSE ELV opened at $541.86 on Monday. The firm has a market cap of $125.94 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.20 and a beta of 0.83. 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 price is $534.36 and its 200 day moving average price 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 announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share 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 company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. On average, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. Elevance Health’s payout ratio is currently 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.