Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Buffington Mohr McNeal

Buffington Mohr McNeal raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,219 shares of the company’s stock after acquiring an additional 1,601 shares during the period. Buffington Mohr McNeal’s holdings in Elevance Health were worth $4,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. abrdn plc lifted its stake in shares of Elevance Health by 86.8% in the 4th 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 lifted its stake 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 purchasing an additional 9,199 shares during the period. Canoe Financial LP lifted its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at $218,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ELV shares. Robert W. Baird assumed coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Wednesday, June 12th. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Royal Bank of Canada upped their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Buy” and an average target price of $611.36.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 0.3 %

NYSE ELV traded up $1.37 during trading hours on Tuesday, reaching $535.92. The company had a trading volume of 1,035,386 shares, compared to its average volume of 1,026,488. The stock has a 50-day moving average of $534.41 and a 200 day moving average of $509.38. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34. 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 stock has a market capitalization of $124.56 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating 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 company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the company posted $9.46 earnings per share. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.