Toth Financial Advisory Corp Has $2.16 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Toth Financial Advisory Corp reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,956 shares of the company’s stock after selling 209 shares during the period. Toth Financial Advisory Corp’s holdings in Elevance Health were worth $2,156,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Consolidated Portfolio Review Corp acquired a new stake in shares of Elevance Health during the 4th quarter worth about $219,000. Golden State Wealth Management LLC bought a new stake in shares of Elevance Health during the fourth quarter worth $75,000. Empowered Funds LLC boosted its stake in shares of Elevance Health by 47.4% in the 4th quarter. Empowered Funds LLC now owns 61,872 shares of the company’s stock valued at $22,825,000 after purchasing an additional 19,907 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of Elevance Health by 10.4% during the 4th quarter. Empirical Finance LLC now owns 10,300 shares of the company’s stock valued at $3,800,000 after purchasing an additional 973 shares in the last quarter. Finally, Alliance Wealth Advisors LLC boosted its holdings in shares of Elevance Health by 29.2% in the fourth quarter. Alliance Wealth Advisors LLC now owns 903 shares of the company’s stock valued at $333,000 after buying an additional 204 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated 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 directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ELV. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Truist Financial upped their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Guggenheim restated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $499.53.

Elevance Health Trading Up 2.4%

ELV opened at $393.70 on Monday. The company has a market cap of $88.95 billion, a P/E ratio of 15.37, a PEG ratio of 1.18 and a beta of 0.60. 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 company’s 50 day moving average is $409.50 and its 200-day moving average is $400.80. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results 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 firm 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%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.74%. Elevance Health’s payout ratio is presently 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.