Western Wealth Management LLC Grows Position in Elevance Health, Inc. $ELV

Western Wealth Management LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 205.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,738 shares of the company’s stock after purchasing an additional 2,516 shares during the quarter. Western Wealth Management LLC’s holdings in Elevance Health were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ELV. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Signet Financial Management LLC lifted its position in Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after acquiring an additional 28 shares during the period. Fulton Breakefield Broenniman LLC lifted its position in Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC boosted its stake in Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after acquiring an additional 29 shares in the last quarter. Finally, Savvy Advisors Inc. grew its holdings in 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 purchasing an additional 30 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Jefferies Financial Group cut their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. Guggenheim lifted their price objective on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $375.44 on Monday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $397.01 and its 200-day moving average price is $356.68. The company has a market cap of $81.42 billion, a PE ratio of 16.69, a PEG ratio of 2.16 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same period in the previous year, the business earned $8.84 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

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

About Elevance Health

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.