Corient Private Wealth LP Purchases 2,703 Shares of Elevance Health, Inc. $ELV

Corient Private Wealth LP lifted its position in Elevance Health, Inc. (NYSE:ELV) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,921 shares of the company’s stock after purchasing an additional 2,703 shares during the period. Corient Private Wealth LP’s holdings in Elevance Health were worth $28,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Kilter Group LLC purchased a new position in shares of Elevance Health in the second quarter valued at about $28,000. Kemnay Advisory Services Inc. bought a new position in Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the 4th quarter valued at approximately $32,000. WealthCollab LLC grew its holdings in 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. Finally, Elevation Wealth Partners LLC raised its position in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $399.17 on Friday. The stock has a market cap of $86.57 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $395.23 and a 200-day moving average price of $361.82. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.84 EPS. Equities analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays lowered their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. TD Cowen lifted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Finally, Guggenheim raised their price objective on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.