Elevance Health, Inc. $ELV Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management increased its Elevance Health stake by 5.4% in the second quarter, bringing its holdings to 161,362 shares valued at approximately $62.4 million. Institutional investors and hedge funds 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, up 0.8% year over year. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $440.90.
• The company declared a quarterly dividend of $1.72 per share, equivalent to an annualized $6.88 dividend and a 1.7% yield. Shares recently opened at $403.70, with a 52-week range of $274.84 to $436.24.

Northwestern Mutual Wealth Management Co. lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,362 shares of the company's stock after buying an additional 8,238 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.07% of Elevance Health worth $62,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ELV. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health in the second quarter valued at approximately $970,000. Manning & Napier Advisors LLC boosted its position in Elevance Health by 1,423.1% in the 4th quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company's stock valued at $129,152,000 after buying an additional 344,237 shares during the period. State of Wyoming purchased a new position in Elevance Health in the 2nd quarter valued at approximately $1,765,000. Mawer Investment Management Ltd. grew its stake in shares of Elevance Health by 10.9% in 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 in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Elevance Health in the second quarter worth $1,267,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE ELV opened at $403.70 on Wednesday. The stock's 50-day simple moving average is $395.47 and its 200-day simple moving average is $363.30. The firm has a market capitalization of $87.55 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. 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 (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period in the prior year, the firm posted $8.84 earnings per share. The firm's revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 30.58%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company's 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 completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. TD Cowen lifted their target price on Elevance Health from $400.00 to $465.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. UBS Group lifted their price objective on Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Cantor Fitzgerald upped their target price on shares of Elevance Health from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Finally, Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a report 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health 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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source