Howe & Rusling Inc. Buys 7,319 Shares of Elevance Health, Inc. $ELV

Howe & Rusling Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,693 shares of the company’s stock after buying an additional 7,319 shares during the period. Howe & Rusling Inc.’s holdings in Elevance Health were worth $11,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in Elevance Health during the 4th quarter worth approximately $32,000. ORG Partners LLC boosted its stake in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health during the fourth quarter valued at approximately $38,000. Finally, Dorato Capital Management acquired a new position in Elevance Health during the fourth quarter valued at approximately $41,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $416.97 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $90.55 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.37 and a beta of 0.67. The company’s 50 day moving average price is $391.29 and its two-hundred day moving average price is $351.14. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $427.19.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same quarter in the prior year, the company earned $11.97 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, analysts expect that Elevance Health, Inc. will post 26.86 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 10th. Elevance Health’s payout ratio is currently 29.26%.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Guggenheim upped their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Finally, Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $419.16.

Insiders Place Their Bets

In related 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

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.