Capital Advisors Ltd. LLC Acquires 20 Shares of Elevance Health, Inc. (NYSE:ELV)

Capital Advisors Ltd. LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 8.8% during the first quarter, Holdings Channel reports. The fund owned 248 shares of the company’s stock after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC’s holdings in Elevance Health were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC acquired a new position in Elevance Health in the 3rd quarter valued at about $556,000. AXQ Capital LP bought a new stake in shares of Elevance Health during the third quarter worth approximately $1,001,000. Alps Advisors Inc. grew its position in shares of Elevance Health by 545.2% in the third quarter. Alps Advisors Inc. now owns 7,929 shares of the company’s stock valued at $3,452,000 after purchasing an additional 6,700 shares during the last quarter. Eminence Capital LP increased its stake in shares of Elevance Health by 2.1% during the third quarter. Eminence Capital LP now owns 165,812 shares of the company’s stock worth $72,198,000 after purchasing an additional 3,416 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in Elevance Health by 562.2% during the 3rd quarter. Legacy Advisors LLC now owns 5,569 shares of the company’s stock worth $2,425,000 after purchasing an additional 4,728 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Morgan Stanley assumed coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Stephens reaffirmed an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a report on Tuesday, June 11th. Finally, Bank of America boosted their price target on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Buy” and a consensus price target of $611.36.

Elevance Health Stock Up 0.3 %

Shares of NYSE ELV opened at $535.92 on Wednesday. The company has a market cap of $124.56 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.20 and a beta of 0.84. 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 12 month low of $412.00 and a 12 month high of $550.34. The stock has a 50-day moving average price of $534.41 and a two-hundred day moving average price of $509.38.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the company earned $9.46 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.