NorthRock Partners LLC Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

NorthRock Partners LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,230 shares of the company’s stock after purchasing an additional 158 shares during the quarter. NorthRock Partners LLC’s holdings in Elevance Health were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Milestone Asset Management LLC lifted its position in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock valued at $488,000 after buying an additional 24 shares during the period. GLOBALT Investments LLC GA lifted its holdings in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after purchasing an additional 24 shares during the last quarter. Elser Financial Planning Inc lifted its holdings in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after purchasing an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC grew its stake in shares of Elevance Health by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after buying an additional 28 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the company’s stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. Robert W. Baird lowered their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $484.00 price target (down previously from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Barclays cut their price objective on shares of Elevance Health from $434.00 to $358.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $418.19.

Elevance Health Price Performance

NYSE ELV opened at $293.99 on Thursday. The stock has a market capitalization of $66.20 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.06 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $274.40 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The business’s fifty day moving average price is $353.84 and its 200-day moving average price is $390.66.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.12 EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.33%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

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.