Accurate Wealth Management LLC Grows Position in Elevance Health, Inc. (NYSE:ELV)

Accurate Wealth Management LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 674 shares of the company’s stock after purchasing an additional 33 shares during the period. Accurate Wealth Management LLC’s holdings in Elevance Health were worth $296,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Simplicity Wealth LLC purchased a new position in Elevance Health in the first quarter valued at approximately $1,489,000. GAMMA Investing LLC increased its stake in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in Elevance Health by 37.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,939 shares of the company’s stock valued at $1,278,000 after purchasing an additional 801 shares during the last quarter. Yousif Capital Management LLC increased its stake in Elevance Health by 1.8% in the first quarter. Yousif Capital Management LLC now owns 39,447 shares of the company’s stock valued at $17,158,000 after purchasing an additional 692 shares during the last quarter. Finally, Regatta Capital Group LLC increased its stake in Elevance Health by 13.9% in the first quarter. Regatta Capital Group LLC now owns 1,011 shares of the company’s stock valued at $440,000 after purchasing an additional 123 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ELV. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Mizuho increased their price objective on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $498.87.

Elevance Health Price Performance

Elevance Health stock opened at $380.65 on Thursday. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business has a fifty day moving average of $406.37 and a two-hundred day moving average of $400.45. The company has a market cap of $86.00 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 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.