Advisors Asset Management Inc. Has $11.83 Million Stock Position in Elevance Health, Inc. $ELV

Advisors Asset Management Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 27.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,402 shares of the company’s stock after purchasing an additional 6,603 shares during the period. Advisors Asset Management Inc.’s holdings in Elevance Health were worth $11,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC boosted its holdings in Elevance Health by 38,796.3% during the second quarter. Laurel Wealth Advisors LLC now owns 21,004 shares of the company’s stock worth $8,170,000 after buying an additional 20,950 shares during the last quarter. Timber Creek Capital Management LLC raised its position in shares of Elevance Health by 24.1% in the 2nd quarter. Timber Creek Capital Management LLC now owns 12,618 shares of the company’s stock valued at $4,908,000 after acquiring an additional 2,453 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Elevance Health by 13.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 21,981 shares of the company’s stock worth $8,549,000 after acquiring an additional 2,606 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Elevance Health by 13.2% during the second quarter. CreativeOne Wealth LLC now owns 1,503 shares of the company’s stock valued at $585,000 after purchasing an additional 175 shares during the period. Finally, Maripau Wealth Management LLC grew its holdings in Elevance Health by 21.2% during the second quarter. Maripau Wealth Management LLC now owns 662 shares of the company’s stock valued at $258,000 after purchasing an additional 116 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ELV shares. Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Guggenheim raised their price objective on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. TD Cowen lifted their target price on Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Truist Financial set a $400.00 price target on Elevance Health in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein dropped their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $397.33.

Elevance Health Price Performance

NYSE ELV opened at $329.50 on Tuesday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The firm’s 50 day moving average is $331.21 and its 200-day moving average is $336.95. The company has a market capitalization of $73.23 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period in the previous year, the business earned $8.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate 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 Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio is 27.96%.

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.