Elevance Health, Inc. $ELV Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 115.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,095 shares of the company’s stock after acquiring an additional 1,658 shares during the quarter. Wedmont Private Capital’s holdings in Elevance Health were worth $1,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC purchased a new stake in Elevance Health during the second quarter valued at about $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $32,000. Finally, Main Street Group LTD purchased a new position in shares of Elevance Health in the first quarter worth approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $402.04 on Wednesday. The company has a market capitalization of $87.19 billion, a PE ratio of 17.87, a PEG ratio of 2.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company’s 50 day moving average price is $397.41 and its 200 day moving average price is $365.53. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV) last released its 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 net margin of 2.47% and a return on equity of 14.64%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.84 EPS. Research analysts expect that Elevance Health, Inc. will post 27.18 EPS 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. 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 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 30.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELV shares. Guggenheim upped their price target on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Mizuho lifted their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Morgan Stanley boosted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Leerink Partners increased their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.