Everhart Financial Group Inc. Acquires Shares of 1,191 Elevance Health, Inc. (NYSE:ELV)

Everhart Financial Group Inc. acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the first quarter, Holdings Channel reports. The fund acquired 1,191 shares of the company’s stock, valued at approximately $518,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bar Harbor Wealth Management bought a new position in Elevance Health during the 1st quarter valued at $217,000. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Elevance Health during the first quarter worth $1,143,000. Relyea Zuckerberg Hanson LLC acquired a new stake in shares of Elevance Health during the first quarter worth $258,000. NorthCrest Asset Manangement LLC raised its holdings in shares of Elevance Health by 2.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 33,854 shares of the company’s stock worth $14,725,000 after purchasing an additional 818 shares during the period. Finally, Rockland Trust Co. raised its holdings in shares of Elevance Health by 46.7% during the first quarter. Rockland Trust Co. now owns 873 shares of the company’s stock worth $380,000 after purchasing an additional 278 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Mizuho increased their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Barclays dropped 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. Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $498.87.

Elevance Health Stock Down 0.4%

ELV stock opened at $384.49 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The firm’s 50-day simple moving average is $404.71 and its 200 day simple moving average is $400.19. The stock has a market cap of $86.87 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

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 analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

About Elevance Health

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.