Thrive Wealth Management LLC Acquires 96 Shares of Elevance Health, Inc. (NYSE:ELV)

Thrive Wealth Management LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 13.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 803 shares of the company’s stock after acquiring an additional 96 shares during the quarter. Thrive Wealth Management LLC’s holdings in Elevance Health were worth $417,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Wealth Enhancement Advisory Services LLC boosted its holdings in Elevance Health by 8.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the company’s stock valued at $5,882,000 after purchasing an additional 877 shares during the period. Wealthcare Advisory Partners LLC grew its position in Elevance Health by 21.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,459 shares of the company’s stock worth $757,000 after buying an additional 254 shares in the last quarter. DGS Capital Management LLC increased its stake in Elevance Health by 88.7% during the first quarter. DGS Capital Management LLC now owns 2,174 shares of the company’s stock valued at $1,127,000 after acquiring an additional 1,022 shares during the period. Eagle Rock Investment Company LLC raised its holdings in Elevance Health by 3.6% in the 1st quarter. Eagle Rock Investment Company LLC now owns 11,578 shares of the company’s stock valued at $6,003,000 after acquiring an additional 406 shares in the last quarter. Finally, Chemistry Wealth Management LLC lifted its position in shares of Elevance Health by 3.1% in the 1st quarter. Chemistry Wealth Management LLC now owns 6,060 shares of the company’s stock worth $3,143,000 after acquiring an additional 183 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. UBS Group upped their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $611.36.

Elevance Health Trading Up 0.3 %

ELV traded up $1.59 during mid-day trading on Thursday, reaching $535.91. The stock had a trading volume of 503,607 shares, compared to its average volume of 1,023,676. The firm’s fifty day simple moving average is $533.94 and its two-hundred day simple moving average is $508.02. The stock has a market capitalization of $124.56 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.18 and a beta of 0.83. 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 announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the company earned $9.46 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were issued a $1.63 dividend. The ex-dividend date was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.