Wedmont Private Capital Acquires 86 Shares of Elevance Health, Inc. (NYSE:ELV)

Wedmont Private Capital boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,853 shares of the company’s stock after purchasing an additional 86 shares during the period. Wedmont Private Capital’s holdings in Elevance Health were worth $953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Czech National Bank raised its position in Elevance Health by 0.4% during the first quarter. Czech National Bank now owns 41,341 shares of the company’s stock valued at $21,437,000 after acquiring an additional 183 shares in the last quarter. Perpetual Ltd grew its holdings in Elevance Health by 5.7% during the first quarter. Perpetual Ltd now owns 520,939 shares of the company’s stock valued at $270,128,000 after purchasing an additional 28,177 shares during the last quarter. Alaska Permanent Fund Corp grew its holdings in Elevance Health by 950.8% during the first quarter. Alaska Permanent Fund Corp now owns 683 shares of the company’s stock valued at $354,000 after purchasing an additional 618 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Elevance Health by 1.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $698,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in Elevance Health by 1,671.4% during the first quarter. Rise Advisors LLC now owns 124 shares of the company’s stock valued at $65,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.1 %

Shares of Elevance Health stock opened at $534.42 on Friday. The company’s fifty day simple moving average is $532.04 and its 200-day simple moving average is $506.60. The company has a market cap of $124.21 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm 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%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.46 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.2 EPS for the current year.

Elevance Health Dividend Announcement

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

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s 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 approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird assumed coverage on Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target on the stock. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $607.36.

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.