Elevance Health, Inc. (NYSE:ELV) Shares Bought by PDS Planning Inc

PDS Planning Inc lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 32.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,009 shares of the company’s stock after buying an additional 491 shares during the quarter. PDS Planning Inc’s holdings in Elevance Health were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ELV. Accredited Wealth Management LLC bought a new position in Elevance Health during the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $374.23 on Thursday. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a market cap of $84.55 billion, a PE ratio of 14.60, a P/E/G ratio of 0.96 and a beta of 0.60. The stock has a 50 day simple moving average of $394.86 and a 200-day simple moving average of $398.76. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

Wall Street Analyst Weigh In

A number of research firms have commented on ELV. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Royal Bank Of Canada reissued an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $498.87.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.