Van Diest Capital LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 225.3% in the first quarter, HoldingsChannel reports. The firm owned 4,388 shares of the company’s stock after purchasing an additional 3,039 shares during the quarter. Elevance Health accounts for about 1.0% of Van Diest Capital LLC’s holdings, making the stock its 22nd largest holding. Van Diest Capital LLC’s holdings in Elevance Health were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthCollab LLC lifted its stake in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health in the 4th quarter valued at about $32,000. ORG Partners LLC raised its holdings in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health in the 4th quarter valued at about $38,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ELV has been the subject of a number of research analyst reports. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Wells Fargo & Company lowered their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday, July 16th. Cantor Fitzgerald upped their price objective on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Guggenheim increased their price objective on Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.
Insider Buying and Selling
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.
Elevance Health Stock Performance
NYSE ELV opened at $377.39 on Friday. The firm has a 50-day moving average price of $398.69 and a two-hundred day moving average price of $356.52. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24. The company has a market capitalization of $81.84 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.17 and a beta of 0.67. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the firm earned $8.84 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 27.04 earnings per share for the current year.
Elevance Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio is currently 30.58%.
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.
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