LongView Wealth Management Buys 84 Shares of Elevance Health, Inc. (NYSE:ELV)

LongView Wealth Management lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 824 shares of the company’s stock after purchasing an additional 84 shares during the period. LongView Wealth Management’s holdings in Elevance Health were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accredited Wealth Management LLC bought a new position in Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter worth $26,000. Riverview Trust Co lifted its holdings in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health during the fourth quarter worth about $30,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELV. Guggenheim reiterated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a “buy” rating in a research note on Monday, June 9th. Finally, Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Four 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.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $498.87.

Elevance Health Stock Performance

ELV opened at $375.58 on Friday. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The firm has a market capitalization of $84.86 billion, a PE ratio of 14.65, a PEG ratio of 0.96 and a beta of 0.60. 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 business’s 50-day simple moving average is $400.00 and its 200 day simple moving average is $399.36.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (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 company had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health’s dividend payout ratio is 26.69%.

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.