Barlow Wealth Partners Inc. Has $961,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Barlow Wealth Partners Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,280 shares of the company’s stock after purchasing an additional 30 shares during the period. Barlow Wealth Partners Inc.’s holdings in Elevance Health were worth $961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health in the 4th quarter valued at $26,000. Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after acquiring an additional 67 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 11.5%

Shares of NYSE ELV opened at $350.34 on Thursday. The company has a market capitalization of $79.15 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. 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 $349.62 and a 52-week high of $567.26. The company’s 50 day moving average price is $390.70 and its 200-day moving average price is $398.48.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.95%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a “buy” rating in a research report on Monday, June 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Guggenheim reiterated a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $498.87.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm’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 directly owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.