Evergreen Wealth Management LLC Boosts Holdings in Elevance Health, Inc. $ELV

Evergreen Wealth Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 13.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,947 shares of the company’s stock after purchasing an additional 1,533 shares during the quarter. Elevance Health accounts for about 2.8% of Evergreen Wealth Management LLC’s holdings, making the stock its 14th largest holding. Evergreen Wealth Management LLC’s holdings in Elevance Health were worth $5,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ELV. Private Wealth Management Group LLC increased its holdings in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after buying an additional 38 shares during the last quarter. WPG Advisers LLC bought a new position in shares of Elevance Health in the 1st quarter worth $29,000. North Capital Inc. bought a new position in shares of Elevance Health in the 1st quarter worth $36,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new position in shares of Elevance Health in the 1st quarter worth $40,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein decreased their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Mizuho increased their target price on shares of Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Argus reaffirmed a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $398.44.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $339.94 on Wednesday. The firm has a market cap of $75.55 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $328.28 and its two-hundred day simple moving average is $350.94.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $8.37 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Insider Transactions at Elevance Health

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