Marks Group Wealth Management Inc Purchases Shares of 524 Elevance Health, Inc. (NYSE:ELV)

Marks Group Wealth Management Inc acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 524 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also modified their holdings of ELV. Accredited Wealth Management LLC bought a new stake in Elevance Health during the fourth quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $26,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the 4th quarter valued at about $30,000. Finally, Riverview Trust Co grew its stake in shares of Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.7%

NYSE ELV opened at $340.04 on Monday. Elevance Health, Inc. has a 52 week low of $337.61 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50 day moving average price is $380.88 and its two-hundred day moving average price is $397.73. The stock has a market capitalization of $76.83 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.87 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 2.01%. Elevance Health’s payout ratio is presently 26.69%.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ELV shares. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Guggenheim reiterated a “buy” rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the stock a “buy” rating in a research note on Monday, June 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $495.80.

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.