Elevance Health, Inc. (NYSE:ELV) Shares Bought by Toth Financial Advisory Corp

Toth Financial Advisory Corp grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 44.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,512 shares of the company’s stock after buying an additional 2,319 shares during the period. Toth Financial Advisory Corp’s holdings in Elevance Health were worth $3,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $467,141,000. Canoe Financial LP increased its holdings in shares of Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after buying an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at approximately $239,244,000. Finally, International Assets Investment Management LLC lifted its holdings in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Robert W. Baird started coverage on shares of Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Buy” and a consensus price target of $611.36.

Elevance Health Stock Up 1.1 %

NYSE ELV traded up $6.09 during trading hours on Friday, hitting $541.86. 1,711,417 shares of the company were exchanged, compared to its average volume of 978,465. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $125.94 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.83. The company has a 50 day moving average of $534.36 and a two-hundred day moving average of $508.67. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $9.46 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were paid a $1.63 dividend. The ex-dividend date was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.