Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Trajan Wealth LLC

Trajan Wealth LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,381 shares of the company's stock after purchasing an additional 2,839 shares during the quarter. Elevance Health makes up approximately 1.1% of Trajan Wealth LLC's portfolio, making the stock its 25th largest holding. Trajan Wealth LLC's holdings in Elevance Health were worth $19,323,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter valued at about $26,000. WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the fourth quarter worth approximately $29,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health in the 4th quarter worth approximately $34,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Down 1.5 %

NYSE:ELV traded down $6.55 during mid-day trading on Friday, hitting $422.24. The company had a trading volume of 779,610 shares, compared to its average volume of 1,452,765. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The business has a fifty day simple moving average of $419.22 and a 200-day simple moving average of $408.94. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $95.59 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is 26.71%.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial increased their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research note on Monday, March 17th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $509.44.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.