Thurston Springer Miller Herd & Titak Inc. Grows Holdings in Elevance Health, Inc. (NYSE:ELV)

Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361 shares of the company’s stock after buying an additional 73 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Elevance Health were worth $157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diligent Investors LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at about $236,000. Cypress Wealth Services LLC raised its holdings in shares of Elevance Health by 21.7% in the 1st quarter. Cypress Wealth Services LLC now owns 969 shares of the company’s stock worth $421,000 after purchasing an additional 173 shares in the last quarter. HF Advisory Group LLC raised its holdings in shares of Elevance Health by 14.9% during the first quarter. HF Advisory Group LLC now owns 5,825 shares of the company’s stock valued at $2,534,000 after acquiring an additional 755 shares during the period. Nixon Peabody Trust Co. raised its holdings in shares of Elevance Health by 82.3% during the first quarter. Nixon Peabody Trust Co. now owns 21,805 shares of the company’s stock valued at $9,484,000 after acquiring an additional 9,846 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in Elevance Health in the 1st quarter valued at approximately $330,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of several recent research reports. Barclays decreased their target price on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Guggenheim restated a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Truist Financial increased their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $499.53.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 2.4%

Shares of NYSE ELV opened at $393.70 on Friday. The firm has a market capitalization of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The firm’s 50-day moving average is $409.50 and its 200-day moving average is $400.79.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

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.