Diversify Wealth Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV – Free Report) during the first quarter, Holdings Channel reports. The institutional investor acquired 2,527 shares of the company’s stock, valued at approximately $740,000.
Several other institutional investors have also recently made changes to their positions in ELV. Sound View Wealth Advisors Group LLC raised its stake in shares of Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after buying an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after purchasing an additional 29 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after buying an additional 29 shares during the last quarter. Savvy Advisors Inc. boosted its stake in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after acquiring an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in Elevance Health by 6.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.
Insiders Place Their Bets
In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
Elevance Health Stock Performance
Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $8.84 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 27.09 earnings per share for the current fiscal year.
Elevance Health Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is presently 29.26%.
Key Headlines Impacting Elevance Health
Here are the key news stories impacting Elevance Health this week:
- Positive Sentiment: Elevance Health beat Q2 estimates on both EPS and revenue, with EPS of $7.45 versus expectations around $6.21 and revenue of $49.83 billion topping forecasts. Business Wire release
- Positive Sentiment: The company raised full-year 2026 adjusted EPS guidance to at least $27.00, signaling management sees improving operating performance and better cost control ahead. Reuters article
- Positive Sentiment: Several analysts turned more constructive after the report, with price target increases from firms including Guggenheim, Barclays, Robert W. Baird, and Truist, which can support sentiment on the stock. Benzinga article
- Neutral Sentiment: Recent coverage and earnings-call transcripts highlight improving medical cost management and stronger CarelonRx revenues, but also note ongoing strain in parts of the business and a mixed operating backdrop. Earnings call transcript
- Negative Sentiment: Some reports pointed to margin pressure and softer membership trends, which appear to be weighing on the stock despite the earnings beat. MSN article
- Negative Sentiment: The company is also leaving more Medicaid markets, adding a strategic headwind that may temper enthusiasm about the near-term growth outlook. Yahoo Finance article
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ELV. UBS Group upped their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Truist Financial increased their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen raised their target price on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group reduced their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Leerink Partners set a $364.00 target price on Elevance Health in a report on Thursday, April 23rd. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $439.43.
Check Out Our Latest Report on ELV
Elevance Health Company Profile
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
Featured Stories
- Five stocks we like better than Elevance Health
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).
Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
