Insight Folios Inc Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Insight Folios Inc lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 13.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 708 shares of the company’s stock after acquiring an additional 85 shares during the quarter. Insight Folios Inc’s holdings in Elevance Health were worth $367,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Retirement Guys Formula LLC lifted its position in shares of Elevance Health by 13.5% in the 1st quarter. Retirement Guys Formula LLC now owns 2,401 shares of the company’s stock worth $1,245,000 after purchasing an additional 286 shares during the period. Uncommon Cents Investing LLC raised its stake in shares of Elevance Health by 1.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 3,598 shares of the company’s stock worth $1,866,000 after acquiring an additional 48 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Elevance Health by 7.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,267 shares of the company’s stock worth $4,287,000 after acquiring an additional 545 shares in the last quarter. Fluent Financial LLC raised its stake in shares of Elevance Health by 4.5% during the 1st quarter. Fluent Financial LLC now owns 651 shares of the company’s stock worth $338,000 after acquiring an additional 28 shares in the last quarter. Finally, DB Fitzpatrick & Co Inc raised its stake in shares of Elevance Health by 3.8% during the 1st quarter. DB Fitzpatrick & Co Inc now owns 3,759 shares of the company’s stock worth $1,949,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s 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 completion of 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 is available through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Stephens restated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Tuesday, June 11th. Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Morgan Stanley initiated coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Finally, Bank of America upped their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One equities 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $611.36.

Elevance Health Price Performance

ELV traded down $5.53 during midday trading on Thursday, hitting $530.39. 656,207 shares of the company traded hands, compared to its average volume of 818,063. 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 company has a market capitalization of $123.27 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. The business has a 50 day simple moving average of $534.40 and a two-hundred day simple moving average of $510.00.

Elevance Health (NYSE:ELV) last issued 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. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $9.46 earnings per share. On average, equities 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

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.