AMG National Trust Bank boosted its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 84.7% during the 1st quarter, HoldingsChannel reports. The firm owned 7,300 shares of the company’s stock after purchasing an additional 3,348 shares during the period. AMG National Trust Bank’s holdings in Elevance Health were worth $2,137,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Murphy Middleton Hinkle & Parker Inc. bought a new stake in Elevance Health during the fourth quarter valued at about $5,941,000. Bright Rock Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at about $7,362,000. Prana Capital Management LP raised its stake in Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after acquiring an additional 45,889 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Elevance Health during the third quarter valued at approximately $10,047,000. Finally, Loews Corp boosted its position in shares of Elevance Health by 107.5% in the third quarter. Loews Corp now owns 110,000 shares of the company’s stock worth $35,543,000 after purchasing an additional 57,000 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.
Elevance Health Price Performance
Elevance Health stock opened at $430.21 on Wednesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $436.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $399.37 and its 200 day moving average is $354.74. The company has a market cap of $93.42 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.41 and a beta of 0.67.
Elevance Health Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is currently 29.26%.
Insider Buying and Selling at Elevance Health
In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ELV. Truist Financial lifted their target price on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore reissued a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. UBS Group raised their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird boosted their price target on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.05.
View Our Latest Stock Analysis on Elevance Health
Elevance Health Company Profile
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
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