2,555 Shares in Elevance Health, Inc. $ELV Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,555 shares of the company’s stock, valued at approximately $988,000.

A number of other large investors also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $205,912,000. Beverly Hills Private Wealth LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth $7,870,000. OneDigital Investment Advisors LLC purchased a new position in shares of Elevance Health in the 2nd quarter worth $3,099,000. Firetrail Investments PTY Ltd. acquired a new position in Elevance Health in the second quarter valued at $12,120,000. Finally, Plato Investment Management Ltd acquired a new stake in Elevance Health during the second quarter worth about $1,845,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $390.69 on Tuesday. The company has a market cap of $84.73 billion, a P/E ratio of 17.36, a PEG ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The business’s 50-day simple moving average is $395.48 and its 200 day simple moving average is $358.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $8.84 earnings per share. On average, sell-side analysts forecast that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s payout ratio is currently 30.58%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELV. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. TD Cowen increased their target price on shares of Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Finally, Guggenheim increased their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $440.90.

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.