Elevance Health, Inc. (NYSE:ELV) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835 shares of the company’s stock after acquiring an additional 70 shares during the period. First Horizon Advisors Inc.’s holdings in Elevance Health were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. abrdn plc raised its position in Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC raised its holdings in shares of Elevance Health by 21.3% in 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 during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at $218,000. Chicago Capital LLC lifted its stake in Elevance Health by 244.2% during the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after acquiring an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Elevance Health in the 4th quarter valued at about $2,235,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $526.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The stock’s 50-day simple moving average is $513.54 and its 200-day simple moving average is $488.91. The firm has a market capitalization of $122.48 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last posted 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. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $9.46 EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research reports. Royal Bank of Canada increased their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Barclays upped their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Mizuho upped their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’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 sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.