Geneos Wealth Management Inc. Purchases 7,098 Shares of Elevance Health, Inc. $ELV

Geneos Wealth Management Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 29.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,360 shares of the company’s stock after purchasing an additional 7,098 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Elevance Health were worth $12,198,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of Elevance Health during the 1st quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its position in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Elevance Health during the second quarter worth about $32,000. Glass Jacobson Investment Advisors llc boosted its holdings in Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. Finally, Saudi Central Bank bought a new stake in shares of Elevance Health in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ELV. Cowen restated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. UBS Group cut their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. TD Cowen increased their target price on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $400.83.

Elevance Health Stock Down 0.4%

Shares of NYSE ELV opened at $358.95 on Friday. The firm’s 50-day simple moving average is $335.31 and its 200 day simple moving average is $332.05. The company has a market cap of $79.77 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.66 and a beta of 0.52. 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, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter last year, the company posted $8.37 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Elevance Health Company 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.