Retirement Guys Formula LLC Has $1.25 Million Position in Elevance Health, Inc. (NYSE:ELV)

Retirement Guys Formula LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,401 shares of the company’s stock after acquiring an additional 286 shares during the quarter. Retirement Guys Formula LLC’s holdings in Elevance Health were worth $1,245,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ELV. Norges Bank acquired a new position in Elevance Health during the fourth quarter worth $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new position in Elevance Health during the fourth quarter worth $467,141,000. Canoe Financial LP raised its stake in Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC acquired a new position in Elevance Health during the fourth quarter worth $239,244,000. Finally, International Assets Investment Management LLC raised its stake in Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after acquiring an additional 255,138 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.0 %

ELV traded down $5.53 during midday trading on Thursday, reaching $530.39. 656,207 shares of the company were exchanged, compared to its average volume of 818,063. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The stock has a market capitalization of $123.27 billion, a P/E ratio of 20.04, a PEG ratio of 1.18 and a beta of 0.84. The stock’s 50-day simple moving average is $534.40 and its 200 day simple moving average is $510.00.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $9.46 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ELV shares. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Wednesday, June 12th. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Morgan Stanley started coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price for the company. Finally, Bank of America raised their target price on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $611.36.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

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.