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

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

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

Elevance Health Stock Performance

Shares of ELV stock opened at $374.23 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. 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 company’s fifty day simple moving average is $394.86 and its 200-day simple moving average is $398.76. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS 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 company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Mizuho lifted 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. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a “buy” rating in a research report on Monday, June 9th. Guggenheim restated a “buy” rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Baird R W lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate 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.