Alesco Advisors LLC An ESL Co Makes New Investment in Elevance Health, Inc. $ELV

Alesco Advisors LLC An ESL Co bought a new position in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent filing with the SEC. The firm bought 3,576 shares of the company’s stock, valued at approximately $1,047,000.

Other large investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health during the 4th quarter worth approximately $32,000. ORG Partners LLC raised its position in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health during the 4th quarter valued at approximately $38,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.9%

Shares of NYSE ELV opened at $393.46 on Wednesday. The firm has a market cap of $85.33 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The company’s 50-day simple moving average is $399.56 and its 200-day simple moving average is $355.93. 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 52-week low of $273.71 and a 52-week high of $436.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the business posted $8.84 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 27.08 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ELV shares. Citigroup upgraded shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group reduced their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Morgan Stanley boosted their price objective on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Truist Financial upped their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s 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 transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.