Vista Investment Management Makes New $2.14 Million Investment in Elevance Health, Inc. $ELV

Vista Investment Management acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,540 shares of the company’s stock, valued at approximately $2,142,000.

A number of other institutional investors have also recently modified their holdings of the stock. Stoneridge Investment Partners LLC acquired a new position in Elevance Health during the second quarter worth about $970,000. Solidarity Wealth LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $1,433,000. Manning & Napier Advisors LLC boosted its stake 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 in the last quarter. State of Wyoming bought a new stake in shares of Elevance Health during the 2nd quarter valued at approximately $1,765,000. Finally, Mawer Investment Management Ltd. grew its holdings in shares of Elevance Health by 10.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock valued at $72,597,000 after purchasing an additional 20,438 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELV. Mizuho increased their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. UBS Group increased their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Raymond James Financial set a $450.00 price objective on Elevance Health in a report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Truist Financial increased their target price on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

ELV stock opened at $400.66 on Friday. The firm has a market cap of $86.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.68. 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, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company’s fifty day simple moving average is $394.76 and its 200 day simple moving average is $359.92.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid 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 dividend payout ratio (DPR) is currently 30.58%.

Insiders Place Their Bets

In other Elevance Health 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 completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

About Elevance Health

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.