Acumen Wealth Advisors LLC Has $2.03 Million Stock Holdings in Elevance Health, Inc. $ELV

Acumen Wealth Advisors LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 51.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,935 shares of the company’s stock after selling 7,357 shares during the quarter. Acumen Wealth Advisors LLC’s holdings in Elevance Health were worth $2,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter worth approximately $32,000. ORG Partners LLC increased its position in Elevance Health by 120.4% during the fourth 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 shares of Elevance Health in the fourth quarter valued at approximately $38,000. Finally, Main Street Group LTD acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $39,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $393.46 on Wednesday. The business has a fifty day simple moving average of $399.56 and a 200 day simple moving average of $355.93. The company has a market capitalization of $85.33 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping 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 firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the business earned $8.84 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELV. Robert W. Baird boosted their target price on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Guggenheim lifted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Jefferies Financial Group decreased their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. TD Cowen increased their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Citigroup upgraded shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Company Profile

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.