HF Advisory Group LLC Grows Stake in Elevance Health, Inc. (NYSE:ELV)

by · The Markets Daily

HF Advisory Group LLC grew its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 14.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,825 shares of the company’s stock after purchasing an additional 755 shares during the period. Elevance Health accounts for about 1.1% of HF Advisory Group LLC’s portfolio, making the stock its 26th biggest position. HF Advisory Group LLC’s holdings in Elevance Health were worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Milestone Asset Management LLC grew its holdings in Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after purchasing an additional 24 shares during the last quarter. Tobam grew its holdings in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares during the last quarter. Quent Capital LLC grew its holdings in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after purchasing an additional 30 shares during the last quarter. Finally, McLean Asset Management Corp grew its holdings in Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company’s stock worth $620,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ELV shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Guggenheim reissued a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Barclays dropped their price objective on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a report on Friday, April 25th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $499.53.

Get Our Latest Analysis on ELV

Elevance Health Trading Up 0.3%

Shares of Elevance Health stock opened at $380.18 on Thursday. The firm has a 50-day simple moving average of $411.30 and a two-hundred day simple moving average of $400.91. The company has a market cap of $85.90 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.80%. Elevance Health’s dividend payout ratio (DPR) is currently 26.69%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).