Elevance Health, Inc. $ELV Holdings Raised by HB Wealth Management LLC

HB Wealth Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,575 shares of the company’s stock after purchasing an additional 4,828 shares during the quarter. HB Wealth Management LLC’s holdings in Elevance Health were worth $8,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ELV. Nilsine Partners LLC boosted its holdings in shares of Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after buying an additional 29 shares during the period. Regatta Capital Group LLC lifted its position in shares of Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after acquiring an additional 30 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares during the period. Accurate Wealth Management LLC boosted its stake in Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock worth $275,000 after purchasing an additional 33 shares during the period. Finally, Retirement Guys Formula LLC grew its position in Elevance Health by 0.9% during the 2nd quarter. Retirement Guys Formula LLC now owns 4,204 shares of the company’s stock worth $1,635,000 after purchasing an additional 37 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 2.2%

Shares of Elevance Health stock opened at $374.85 on Friday. The firm has a market cap of $83.31 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.89 and a beta of 0.51. The stock has a 50-day simple moving average of $337.08 and a 200-day simple moving average of $328.63. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. Wells Fargo & Company increased their target price on Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird upped their price target on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen lifted their target price on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 price target (down from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $400.20.

Elevance Health 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.