Diversified Trust Co Purchases 1,348 Shares of Elevance Health, Inc. (NYSE:ELV)

Diversified Trust Co raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% in the first quarter, HoldingsChannel reports. The firm owned 21,744 shares of the company’s stock after buying an additional 1,348 shares during the quarter. Diversified Trust Co’s holdings in Elevance Health were worth $11,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. abrdn plc raised its stake in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares during the period. Cerity Partners LLC lifted its stake in shares of Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares in the last quarter. Canoe Financial LP boosted its holdings in Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after buying an additional 517,116 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Elevance Health during the fourth quarter valued at about $218,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after acquiring an additional 16,737 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s 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 completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock traded down $5.97 during mid-day trading on Monday, hitting $535.89. 199,547 shares of the stock were exchanged, compared to its average volume of 1,022,585. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $124.55 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. The firm has a fifty day moving average of $534.36 and a 200 day moving average of $508.99.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 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 business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. Research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analyst Weigh In

ELV has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Wednesday, June 12th. Mizuho raised their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $611.36.

Elevance Health Company 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.