Toth Financial Advisory Corp Buys 2,319 Shares of Elevance Health, Inc. (NYSE:ELV)

Toth Financial Advisory Corp lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 44.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,512 shares of the company's stock after purchasing an additional 2,319 shares during the quarter. Toth Financial Advisory Corp's holdings in Elevance Health were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanders Capital LLC boosted its position in Elevance Health by 4.6% during the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company's stock worth $2,102,208,000 after buying an additional 196,010 shares during the period. Capital International Investors boosted its position in Elevance Health by 7.9% during the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company's stock worth $1,591,237,000 after buying an additional 248,150 shares during the period. Baillie Gifford & Co. lifted its position in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company's stock worth $1,456,132,000 after purchasing an additional 27,986 shares during the period. Norges Bank acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $1,347,434,000. Finally, Morgan Stanley lifted its position in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company's stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an "overweight" rating in a research report on Thursday, May 30th. Morgan Stanley initiated coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an "overweight" rating and a $643.00 price target on the stock. StockNews.com downgraded shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a research report on Thursday, June 6th. Robert W. Baird initiated coverage on shares of Elevance Health in a research report on Thursday, May 30th. They issued an "outperform" rating and a $649.00 price target on the stock. Finally, Stephens restated an "overweight" rating and issued a $615.00 price target on shares of Elevance Health in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Buy" and a consensus target price of $611.36.

Elevance Health Stock Up 1.1 %

ELV traded up $6.09 during trading on Friday, hitting $541.86. 1,711,417 shares of the company's stock were exchanged, compared to its average volume of 978,465. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business's 50 day moving average is $534.36 and its two-hundred day moving average is $508.85. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The stock has a market cap of $125.94 billion, a P/E ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the company posted $9.46 earnings per share. The business's revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health's payout ratio is 24.64%.

Insiders Place Their Bets

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% 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.