Vestmark Advisory Solutions Inc. Buys Shares of 1,877 Elevance Health, Inc. $ELV

Vestmark Advisory Solutions Inc. acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,877 shares of the company’s stock, valued at approximately $730,000.

Several other large investors also recently added to or reduced their stakes in the business. Malaga Cove Capital LLC bought a new stake in Elevance Health during the 2nd quarter worth approximately $328,000. Modera Wealth Management LLC raised its position in shares of Elevance Health by 47.2% during the 2nd quarter. Modera Wealth Management LLC now owns 34,999 shares of the company’s stock valued at $13,613,000 after purchasing an additional 11,220 shares during the period. Cetera Trust Company N.A lifted its stake in shares of Elevance Health by 2.0% during the 2nd quarter. Cetera Trust Company N.A now owns 4,181 shares of the company’s stock valued at $1,626,000 after buying an additional 80 shares in the last quarter. Washington Trust Bank boosted its holdings in Elevance Health by 5.1% in the 2nd quarter. Washington Trust Bank now owns 32,507 shares of the company’s stock worth $12,644,000 after buying an additional 1,569 shares during the period. Finally, Achmea Investment Management B.V. raised its holdings in Elevance Health by 62.4% during the second quarter. Achmea Investment Management B.V. now owns 17,228 shares of the company’s stock valued at $6,702,000 after acquiring an additional 6,619 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. 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 research note on Friday, July 18th. Robert W. Baird cut their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, UBS Group dropped their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $397.33.

Elevance Health Trading Up 3.7%

Shares of ELV stock opened at $315.06 on Wednesday. The company has a market cap of $70.02 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The stock’s 50 day simple moving average is $328.95 and its two-hundred day simple moving average is $342.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

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

Elevance Health Dividend Announcement

The company also recently announced 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. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

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.