2,198 Shares in Elevance Health, Inc. $ELV Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,198 shares of the company’s stock, valued at approximately $831,000.

A number of other hedge funds have also recently bought and sold shares of the company. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Signet Financial Management LLC increased its position in shares of Elevance Health by 3.5% in the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after acquiring an additional 28 shares in the last quarter. Sapient Capital LLC raised its position in Elevance Health by 1.2% in the first quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after purchasing an additional 31 shares during the period. Mutual Advisors LLC lifted its position in Elevance Health by 1.4% during the 4th quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after acquiring an additional 32 shares in the last quarter. Finally, Waddell & Associates LLC boosted its stake in shares of Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock valued at $435,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $397.15 on Friday. The stock has a market cap of $86.13 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.29 and a beta of 0.68. The firm’s 50-day simple moving average is $394.82 and its 200 day simple moving average is $359.63. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company earned $8.84 EPS. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts expect that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Royal Bank Of Canada cut their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Cantor Fitzgerald lifted their price target on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Morgan Stanley boosted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Citigroup upgraded shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s 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 completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

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.