Jacobsen Capital Management Takes Position in Elevance Health, Inc. $ELV

Jacobsen Capital Management purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 678 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GLOBALT Investments LLC GA boosted its stake in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after purchasing an additional 24 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after buying an additional 27 shares during the last quarter. Hemington Wealth Management lifted its position in Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after buying an additional 27 shares in the last quarter. Aspen Investment Management Inc lifted its position in Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC grew its holdings in Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after acquiring an additional 28 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of ELV stock opened at $350.77 on Wednesday. The firm’s 50 day moving average price is $324.38 and its two-hundred day moving average price is $354.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a market cap of $78.99 billion, a PE ratio of 14.93, a PEG ratio of 1.29 and a beta of 0.59.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the business posted $8.37 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio is 29.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group dropped their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Leerink Partners restated a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $400.06.

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.