Elevance Health, Inc. (NYSE:ELV) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,842 shares of the company’s stock after selling 233 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Elevance Health were worth $2,511,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at about $28,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at about $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $32,000. Register Financial Advisors LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at about $32,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Bank of America lifted their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. UBS Group lifted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $611.36.

Elevance Health Stock Down 1.1 %

ELV stock opened at $530.22 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $534.47 and its two-hundred day moving average is $509.86. 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 $123.23 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 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 for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the firm earned $9.46 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

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

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.