Demars Financial Group LLC Purchases Shares of 206,606 Elevance Health, Inc. (NYSE:ELV)

Demars Financial Group LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 206,606 shares of the company’s stock, valued at approximately $89,865,000. Demars Financial Group LLC owned approximately 0.09% of Elevance Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired 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 and hedge funds.

Elevance Health Stock Down 2.1%

ELV opened at $376.62 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $85.09 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The stock’s fifty day simple moving average is $403.64 and its 200 day simple moving average is $399.94. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current 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 given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Activity

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 stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELV. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Baird R W downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Four equities 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $498.87.

Elevance Health 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.