Ally Financial Inc. Takes $4.64 Million Position in Elevance Health, Inc. $ELV

Ally Financial Inc. bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,000 shares of the company's stock, valued at approximately $4,641,000.

Other institutional investors have also bought and sold shares of the company. WealthCollab LLC increased its stake 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 acquiring an additional 27 shares in the last quarter. Kilter Group LLC bought a new stake in Elevance Health in the second quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the 4th quarter worth about $32,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health during the 1st quarter worth about $39,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ELV shares. Robert W. Baird boosted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a "neutral" rating and set a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Guggenheim increased 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. Barclays decreased their price objective on shares of Elevance Health from $480.00 to $457.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Finally, Truist Financial boosted their target price on shares of Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction 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 $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV opened at $400.66 on Monday. The business's fifty day moving average is $394.76 and its 200 day moving average is $360.04. The firm has a market cap of $86.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.29 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. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.84 EPS. Research analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The business 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 $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. 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.

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