Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Stock Holdings in Elevance Health, Inc. $ELV

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 522 shares of the company’s stock after selling 44 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Elevance Health were worth $203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Nuveen LLC purchased a new position in shares of Elevance Health in the 1st quarter worth approximately $789,943,000. Orbis Allan Gray Ltd boosted its holdings in shares of Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Boston Partners boosted its holdings in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after purchasing an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Morgan Stanley raised their price target on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Leerink Partners reissued a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Robert W. Baird decreased their price target 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. Finally, TD Cowen raised their price target on Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.89.

Elevance Health Trading Up 0.3%

Shares of NYSE ELV opened at $346.36 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $326.42 and a two-hundred day simple moving average of $353.99. The firm has a market cap of $76.97 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.26 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.37 EPS. Analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

About Elevance Health

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.