AMG National Trust Bank Makes New $4.97 Million Investment in Elevance Health, Inc. $ELV

Key Points

• AMG National Trust Bank acquired 12,846 shares of Elevance Health worth approximately $4.97 million in the second quarter. Institutional investors and hedge funds collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, beating analyst expectations of $6.21, while revenue reached $49.83 billion. The company also announced a quarterly dividend of $1.72 per share, equating to a 1.7% annual yield.
• Analyst sentiment remains favorable, with 15 Buy ratings and eight Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $440.90.

AMG National Trust Bank acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,846 shares of the company's stock, valued at approximately $4,968,000.

Other large investors have also made changes to their positions in the company. M&T Bank Corp raised its position in shares of Elevance Health by 160.4% during the 4th quarter. M&T Bank Corp now owns 50,486 shares of the company's stock valued at $17,698,000 after buying an additional 31,101 shares during the period. Solidarity Wealth LLC purchased a new position in Elevance Health in the fourth quarter worth approximately $1,433,000. Manning & Napier Advisors LLC increased its stake in Elevance Health by 1,423.1% during the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company's stock worth $129,152,000 after acquiring an additional 344,237 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Elevance Health by 10.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company's stock worth $72,597,000 after acquiring an additional 20,438 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Elevance Health by 7.8% in the second quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company's stock valued at $30,865,000 after purchasing an additional 5,772 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health 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 completion of the transaction, the director owned 10,734 shares of the company's stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.1%

Shares of NYSE ELV opened at $400.63 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $86.88 billion, a PE ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The stock has a fifty day simple moving average of $396.05 and a 200-day simple moving average of $358.01.

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. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. Elevance Health's revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio is 30.58%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen upped their price target on Elevance Health from $400.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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