AlphaCore Capital LLC Buys 174 Shares of Elevance Health, Inc. $ELV

AlphaCore Capital LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 29.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 768 shares of the company’s stock after buying an additional 174 shares during the period. AlphaCore Capital LLC’s holdings in Elevance Health were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ELV. Verdence Capital Advisors LLC increased its position in shares of Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after acquiring an additional 790 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of Elevance Health by 44.8% in the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,939 shares in the last quarter. World Investment Advisors raised its stake in shares of Elevance Health by 17.0% in the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after purchasing an additional 3,988 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after purchasing an additional 817 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Elevance Health by 4.6% during the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after purchasing an additional 982 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 2.4%

Shares of ELV stock opened at $329.50 on Tuesday. The company has a market cap 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. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The stock’s 50 day simple moving average is $331.21 and its two-hundred day simple moving average is $336.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Mizuho reduced their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company dropped their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Barclays decreased their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a report on Monday, November 17th. Finally, Sanford C. Bernstein reduced their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Twelve 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 company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and a consensus target price of $397.33.

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.