Elyxium Wealth LLC Makes New Investment in Elevance Health, Inc. $ELV

Elyxium Wealth LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, Holdings Channel reports. The firm acquired 609 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Strategic Blueprint LLC purchased a new position in shares of Elevance Health during the first quarter valued at approximately $200,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Elevance Health by 50.6% during the first quarter. Concurrent Investment Advisors LLC now owns 2,189 shares of the company’s stock valued at $952,000 after purchasing an additional 735 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Elevance Health by 16.7% during the first quarter. Envestnet Asset Management Inc. now owns 573,607 shares of the company’s stock valued at $249,496,000 after purchasing an additional 82,014 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Elevance Health by 50.3% during the first quarter. TD Private Client Wealth LLC now owns 4,035 shares of the company’s stock valued at $1,755,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Callan Capital LLC lifted its holdings in shares of Elevance Health by 11.6% during the first quarter. Callan Capital LLC now owns 1,409 shares of the company’s stock valued at $613,000 after purchasing an additional 147 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the subject of several analyst reports. Guggenheim raised their price target on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Mizuho reduced their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Argus reissued a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Barclays reduced their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $397.33.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Up 1.1%

NYSE:ELV opened at $316.67 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market cap of $70.38 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The company has a 50 day simple moving average of $329.18 and a two-hundred day simple moving average of $346.39.

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

Elevance Health Dividend Announcement

The firm 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.