Graves Light Lenhart Wealth Inc. Acquires 3,603 Shares of Elevance Health, Inc. $ELV

Graves Light Lenhart Wealth Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 124.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,505 shares of the company’s stock after acquiring an additional 3,603 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in Elevance Health were worth $2,516,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. WealthCollab LLC grew its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health during the fourth quarter valued at approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Elevance Health during the fourth quarter valued at approximately $38,000. Finally, Main Street Group LTD purchased a new position in Elevance Health in the 1st quarter worth approximately $39,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $391.52 on Thursday. The stock has a market capitalization of $84.91 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.17 and a beta of 0.68. The firm’s 50-day moving average price is $396.58 and its two-hundred day moving average price is $356.87. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share 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 analyst estimates 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 period in the prior year, the business posted $8.84 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 27.07 earnings per share 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 given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ELV shares. Citigroup raised shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Wells Fargo & Company reduced 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. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred 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 directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.