Empirical Asset Management LLC Takes Position in Elevance Health, Inc. $ELV

Empirical Asset Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,399 shares of the company’s stock, valued at approximately $541,000.

A number of other large investors also recently bought and sold shares of ELV. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $32,000. WealthCollab LLC lifted 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 valued at $27,000 after purchasing an additional 27 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in shares of Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’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 directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents 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. 0.34% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of ELV opened at $399.35 on Wednesday. The company has a market capitalization of $86.61 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. 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 has a 50 day moving average of $394.99 and a 200 day moving average of $358.90. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24.

Elevance Health (NYSE:ELV) last released 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. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the prior year, the firm posted $8.84 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s payout ratio is currently 30.58%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reduced their price objective on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Mizuho lifted their price objective on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Bank of America boosted their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Finally, UBS Group raised their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

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.