Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Liberty One Investment Management LLC

Liberty One Investment Management LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 17.4% in the first quarter, HoldingsChannel reports. The firm owned 10,661 shares of the company’s stock after buying an additional 1,582 shares during the period. Liberty One Investment Management LLC’s holdings in Elevance Health were worth $4,637,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. Guggenheim reaffirmed a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Barclays reduced their target price on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday, June 2nd. Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $498.87.

Elevance Health Price Performance

Shares of ELV opened at $346.76 on Tuesday. The company has a market capitalization of $78.34 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $343.72 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The business’s 50-day moving average is $386.32 and its 200-day moving average is $398.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s dividend payout ratio is 26.69%.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer owned 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.