Elevance Health, Inc. (NYSE:ELV) Stake Lessened by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 787 shares of the company’s stock after selling 37 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Elevance Health were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Richwood Investment Advisors LLC lifted its holdings in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares in the last quarter. Bell Investment Advisors Inc increased its stake in shares of Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares during the last quarter. Alliance Wealth Advisors LLC increased its stake in shares of Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after acquiring an additional 21 shares during the last quarter. Sugarloaf Wealth Management LLC increased its stake in shares of Elevance Health by 8.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Baird R W raised shares of Elevance Health to a “strong-buy” 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 set an “overweight” rating and a $643.00 target price on the stock. Finally, Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $611.36.

Elevance Health Trading Up 1.1 %

Shares of NYSE:ELV opened at $541.92 on Friday. The company has a market cap of $125.95 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.18 and a beta of 0.83. The stock’s 50-day moving average is $534.36 and its 200-day moving average is $508.67. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. 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 (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating 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 business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the company earned $9.46 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Activity at Elevance Health

In related 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

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.