Vicus Capital Invests $204,000 in Elevance Health, Inc. (NYSE:ELV)

Vicus Capital purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the first quarter, Holdings Channel.com reports. The fund purchased 393 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gotham Asset Management LLC grew its holdings in Elevance Health by 33.8% in the 3rd quarter. Gotham Asset Management LLC now owns 10,099 shares of the company’s stock worth $4,397,000 after buying an additional 2,551 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Elevance Health by 5.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,837 shares of the company’s stock worth $800,000 after buying an additional 98 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Elevance Health by 28.1% in the 3rd quarter. Lazard Asset Management LLC now owns 126,121 shares of the company’s stock worth $54,914,000 after buying an additional 27,659 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Elevance Health in the 3rd quarter worth approximately $556,000. Finally, AXQ Capital LP bought a new position in Elevance Health in the 3rd quarter worth approximately $1,001,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research note on Wednesday, June 12th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $611.36.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s 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 completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Up 1.1 %

Shares of Elevance Health stock traded up $6.09 during midday trading on Friday, hitting $541.86. The company’s stock had a trading volume of 1,711,417 shares, compared to its average volume of 978,465. The firm has a market capitalization of $125.94 billion, a P/E ratio of 20.48, a PEG ratio of 1.20 and a beta of 0.83. The stock has a 50-day simple moving average of $534.36 and a 200-day simple moving average of $508.85. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion during 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%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $9.46 earnings per share. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

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