Coldstream Capital Management Inc. Buys 714 Shares of Elevance Health, Inc. $ELV

Coldstream Capital Management Inc. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,507 shares of the company’s stock after buying an additional 714 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Elevance Health were worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Elevance Health by 3.2% in the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares during the period. Sanders Capital LLC boosted its position in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Elevance Health by 9.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock valued at $1,429,498,000 after acquiring an additional 324,399 shares during the period. Orbis Allan Gray Ltd increased its position in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Elevance Health by 13.8% during 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 valued at $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.4%

ELV stock opened at $329.50 on Tuesday. The stock has a market cap of $73.23 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company’s 50 day moving average is $331.21 and its 200 day moving average is $336.95. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

Several brokerages have issued reports on ELV. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. UBS Group decreased their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Sanford C. Bernstein lowered their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Mizuho cut their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Morgan Stanley boosted their price objective on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and an average price target of $397.33.

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.