Mowery & Schoenfeld Wealth Management LLC Invests $584,000 in Elevance Health, Inc. $ELV

Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,511 shares of the company’s stock, valued at approximately $584,000. Elevance Health makes up about 0.8% of Mowery & Schoenfeld Wealth Management LLC’s portfolio, making the stock its 23rd largest position.

Other hedge funds have also made changes to their positions in the company. M&T Bank Corp boosted its stake in shares of Elevance Health by 160.4% during the 4th quarter. M&T Bank Corp now owns 50,486 shares of the company’s stock worth $17,698,000 after acquiring an additional 31,101 shares in the last quarter. Solidarity Wealth LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at $1,433,000. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $970,000. Manning & Napier Advisors LLC boosted its position in shares of Elevance Health by 1,423.1% in the 4th quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after purchasing an additional 344,237 shares during the period. Finally, State of Wyoming purchased a new position in Elevance Health in the 2nd quarter worth about $1,765,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 2.3%

NYSE:ELV opened at $399.35 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The stock’s 50-day moving average is $394.99 and its two-hundred day moving average is $358.90. The stock has a market cap of $86.61 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.84 earnings per share. As a group, equities research analysts forecast that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is currently 30.58%.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELV shares. Robert W. Baird boosted their price objective on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Mizuho raised their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Finally, Cantor Fitzgerald upped their price target on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.