Focus Partners Wealth Has $9.76 Million Position in Elevance Health, Inc. $ELV

Focus Partners Wealth raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,446 shares of the company’s stock after buying an additional 982 shares during the quarter. Focus Partners Wealth’s holdings in Elevance Health were worth $9,764,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Private Wealth Management Group LLC boosted its position in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new stake in Elevance Health in the 1st quarter valued at $29,000. Riverview Trust Co increased its position in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after buying an additional 67 shares during the period. North Capital Inc. bought a new position in Elevance Health during the 1st quarter worth $36,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health during the 4th quarter worth $39,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.0%

NYSE ELV opened at $311.74 on Friday. The stock’s 50 day moving average is $306.50 and its 200 day moving average is $370.59. The firm has a market capitalization of $70.20 billion, a PE ratio of 13.27, a P/E/G ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $559.95. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the firm posted $10.12 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health’s dividend payout ratio is presently 29.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELV shares. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Barclays lifted their price objective on Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. lowered their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Truist Financial decreased their price target on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley cut their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $411.06.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.