YHB Investment Advisors Inc. Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

YHB Investment Advisors Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,545 shares of the company’s stock after buying an additional 98 shares during the period. YHB Investment Advisors Inc.’s holdings in Elevance Health were worth $2,412,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new position in Elevance Health in the fourth quarter worth $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the fourth quarter worth $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $372.53 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The firm has a market cap of $84.17 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.95 and a beta of 0.60. The business’s fifty day moving average is $397.31 and its 200 day moving average is $399.09.

Elevance Health (NYSE:ELV) last announced 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 business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current 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 paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.84%. Elevance Health’s dividend payout ratio is currently 26.69%.

Analyst Ratings Changes

Several research analysts have weighed in on ELV shares. Guggenheim reissued a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Mizuho boosted their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the 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 in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.