Callan Family Office LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,118 shares of the company's stock, valued at approximately $1,593,000.
A number of other large investors have also modified their holdings of ELV. Kilter Group LLC acquired a new stake in Elevance Health during the 2nd quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $32,000. WealthCollab LLC increased its stake in 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. Finally, Elevation Wealth Partners LLC grew its position in shares of Elevance Health by 600.0% during the 2nd 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. Institutional investors and hedge funds own 89.24% of the company's stock.
Insider Transactions at Elevance Health
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business'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 completion of the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.
Elevance Health Price Performance
Shares of NYSE:ELV opened at $400.66 on Monday. The firm's 50 day moving average is $394.76 and its two-hundred day moving average is $360.04. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The firm has a market capitalization of $86.89 billion, a P/E ratio of 17.81, a PEG ratio of 2.29 and a beta of 0.68. 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 (NYSE:ELV - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The business's revenue was up .8% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 27.18 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 paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health's payout ratio is presently 30.58%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ELV. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research report on Thursday, July 16th. UBS Group boosted their price objective on Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Truist Financial upped their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Morgan Stanley increased their target price on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Finally, Citigroup upgraded Elevance Health to a "buy" rating in a research note on Wednesday, April 29th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $440.90.
View Our Latest Analysis on ELV
Elevance Health Profile
(
Free Report)
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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