Vicus Capital Purchases Shares of 393 Elevance Health, Inc. (NYSE:ELV)

Vicus Capital purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 393 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds also recently bought and sold shares of the stock. Grimes & Company Inc. acquired a new stake in Elevance Health in the 1st quarter valued at about $216,000. Toth Financial Advisory Corp raised its position in Elevance Health by 44.7% in the 1st quarter. Toth Financial Advisory Corp now owns 7,512 shares of the company’s stock valued at $3,895,000 after purchasing an additional 2,319 shares in the last quarter. Avity Investment Management Inc. raised its position in Elevance Health by 10.0% in the 1st quarter. Avity Investment Management Inc. now owns 485 shares of the company’s stock valued at $251,000 after purchasing an additional 44 shares in the last quarter. Independence Bank of Kentucky raised its position in Elevance Health by 47.4% in the 1st quarter. Independence Bank of Kentucky now owns 923 shares of the company’s stock valued at $479,000 after purchasing an additional 297 shares in the last quarter. Finally, New England Research & Management Inc. raised its position in Elevance Health by 6.6% in the 1st quarter. New England Research & Management Inc. now owns 2,025 shares of the company’s stock valued at $1,050,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock traded up $6.09 during midday trading on Friday, hitting $541.86. The company had a trading volume of 1,711,417 shares, compared to its average volume of 978,465. The company’s 50 day simple moving average is $534.36 and its 200 day simple moving average is $508.85. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. The stock has a market cap of $125.94 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last announced 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. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a $1.63 dividend. The ex-dividend date was Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on 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 sale, 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 document filed with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group raised their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Stephens reissued an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research report on Tuesday, June 11th. Baird R W raised Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Mizuho raised their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Buy” and an average target price of $611.36.

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.