Fifth Third Bancorp raised its position in Elevance Health Inc. (NYSE:ELV – Get Rating) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,047 shares of the company’s stock after buying an additional 516 shares during the quarter. Fifth Third Bancorp’s holdings in Elevance Health were worth $9,356,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ELV. Industrial Alliance Investment Management Inc. acquired a new position in shares of Elevance Health during the 4th quarter worth $26,000. Trust Co. of Vermont acquired a new position in shares of Elevance Health during the 4th quarter worth $31,000. Castleview Partners LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $36,000. Tyler Stone Wealth Management acquired a new position in shares of Elevance Health during the 4th quarter worth $41,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Elevance Health by 145.9% during the 4th quarter. Benjamin Edwards Inc. now owns 91 shares of the company’s stock worth $42,000 after purchasing an additional 54 shares during the period. 84.28% of the stock is currently owned by institutional investors.
Shares of NYSE:ELV opened at $485.98 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.55. Elevance Health Inc. has a 52-week low of $355.43 and a 52-week high of $533.68. The company has a 50 day moving average of $489.85 and a two-hundred day moving average of $473.80. The company has a market capitalization of $117.16 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.
Elevance Health (NYSE:ELV – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The company reported $8.25 earnings per share for the quarter, topping analysts’ consensus estimates of $7.81 by $0.44. Elevance Health had a net margin of 4.33% and a return on equity of 18.71%. The business had revenue of $38.10 billion during the quarter, compared to the consensus estimate of $37.28 billion. During the same quarter last year, the company earned $7.01 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health Inc. will post 28.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were given a dividend of $1.28 per share. The ex-dividend date was Thursday, June 9th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Elevance Health’s previous quarterly dividend of $1.13. Elevance Health’s dividend payout ratio (DPR) is presently 20.16%.
ELV has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Elevance Health from $527.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, April 21st. Sanford C. Bernstein assumed coverage on shares of Elevance Health in a research note on Thursday, May 26th. They issued an “outperform” rating and a $596.00 price objective on the stock. Truist Financial increased their price objective on shares of Elevance Health from $590.00 to $610.00 in a research note on Thursday, April 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Elevance Health from $453.00 to $574.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, Loop Capital assumed coverage on shares of Elevance Health in a research note on Thursday, June 16th. They issued a “buy” rating and a $550.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $550.05.
In related news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $488.60, for a total transaction of $3,091,860.80. Following the transaction, the executive vice president now directly owns 14,529 shares in the company, valued at $7,098,869.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Dixon, Jr. sold 420 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $497.14, for a total value of $208,798.80. Following the transaction, the director now owns 9,491 shares in the company, valued at $4,718,355.74. The disclosure for this sale can be found here. Insiders have sold 7,738 shares of company stock valued at $3,764,851 in the last three months. Corporate insiders own 0.27% of the company’s stock.
About Elevance Health (Get Rating)
Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.
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