Balefire LLC Purchases 122 Shares of Elevance Health, Inc. (NYSE:ELV)

Balefire LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,375 shares of the company’s stock after purchasing an additional 122 shares during the period. Balefire LLC’s holdings in Elevance Health were worth $598,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after acquiring an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock worth $3,917,004,000 after purchasing an additional 464,137 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC raised its stake in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the period. Finally, Sanders Capital LLC raised its stake in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $374.23 on Thursday. The firm has a fifty day simple moving average of $394.86 and a two-hundred day simple moving average of $398.76. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $84.55 billion, a P/E ratio of 14.60, a PEG ratio of 0.96 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly 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 net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $498.87.

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.