Circle Wealth Management LLC Acquires New Shares in Elevance Health, Inc. $ELV

Circle Wealth Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the first quarter, Holdings Channel reports. The institutional investor acquired 871 shares of the company’s stock, valued at approximately $379,000.

Several other large investors also recently modified their holdings of the business. Milestone Asset Management LLC increased its holdings in shares of Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after acquiring an additional 24 shares in the last quarter. GLOBALT Investments LLC GA increased its holdings in shares of Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc increased its holdings in shares of Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 2.0%

ELV stock opened at $315.8370 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $324.18 and a two-hundred day moving average price of $378.71. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.13 and a beta of 0.58. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly 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 company 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 for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.12 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group restated a “buy” rating and issued a $484.00 price target (down from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Leerink Partners restated a “market perform” rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Guggenheim dropped their target price on Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.81.

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.