Focus Partners Advisor Solutions LLC Makes New $532,000 Investment in Elevance Health, Inc. $ELV

Focus Partners Advisor Solutions LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,375 shares of the company’s stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. Sei Investments Co. increased its stake in Elevance Health by 7.7% in the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co boosted its position in shares of Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after buying an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after buying an additional 23,180 shares during the period. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ELV. Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday, July 16th. Jefferies Financial Group dropped their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Wells Fargo & Company cut their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Trading Down 2.4%

ELV opened at $390.69 on Tuesday. The stock has a market capitalization of $84.73 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The firm’s fifty day simple moving average is $395.48 and its 200 day simple moving average is $358.49.

Elevance Health (NYSE:ELV) last released its 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. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is presently 30.58%.

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.