Toth Financial Advisory Corp Cuts Holdings in Elevance Health, Inc. (NYSE:ELV)

Toth Financial Advisory Corp cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,956 shares of the company’s stock after selling 209 shares during the quarter. Toth Financial Advisory Corp’s holdings in Elevance Health were worth $2,156,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ELV shares. Barclays dropped their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial increased their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Guggenheim reissued a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $499.53.

Elevance Health Stock Up 2.4%

ELV opened at $393.70 on Monday. The company has a market capitalization of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The business has a 50-day moving average of $409.50 and a 200-day moving average of $400.80.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.74%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business’s 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 completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

About Elevance Health

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.