Elevance Health, Inc. $ELV Shares Purchased by Atlas Wealth LLC

Key Points

• Atlas Wealth LLC dramatically increased its stake in Elevance Health, boosting holdings by 41,499.1% to 336,953 shares. The position is now its largest, representing about 12.1% of its portfolio.
• Elevance Health reported better-than-expected quarterly results, with EPS of $7.45 beating estimates and revenue of $49.83 billion also topping forecasts. The company also raised its full-year outlook, which has helped support bullish sentiment.
• Analysts remain generally positive on ELV, with several firms raising price targets and the stock carrying a Moderate Buy consensus. Elevance also declared a quarterly dividend of $1.72 per share, or $6.88 annually, yielding about 1.8%.

Atlas Wealth LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 41,499.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 336,953 shares of the company's stock after buying an additional 336,143 shares during the period. Elevance Health makes up approximately 12.1% of Atlas Wealth LLC's portfolio, making the stock its biggest position. Atlas Wealth LLC owned about 0.16% of Elevance Health worth $98,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of ELV. Kera Capital Partners Inc. acquired a new stake in Elevance Health in the 1st quarter valued at approximately $228,000. Assetmark Inc. lifted its stake in Elevance Health by 37.7% during the first quarter. Assetmark Inc. now owns 145,525 shares of the company's stock worth $42,602,000 after purchasing an additional 39,837 shares in the last quarter. Main Street Group LTD acquired a new position in Elevance Health during the first quarter worth $39,000. Bank of New York Mellon Corp boosted its position in shares of Elevance Health by 18.1% during the first quarter. Bank of New York Mellon Corp now owns 2,845,280 shares of the company's stock worth $832,956,000 after buying an additional 436,576 shares during the period. Finally, Signet Financial Management LLC grew its stake in shares of Elevance Health by 3.5% in the first quarter. Signet Financial Management LLC now owns 837 shares of the company's stock valued at $245,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELV shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday. UBS Group increased their price target on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a "hold" rating to a "buy" rating and raised their price objective for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Bank of America lifted their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, Mizuho upped their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $440.90.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $372.68 on Friday. The stock has a market capitalization of $80.82 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.10 and a beta of 0.67. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The company has a 50-day simple moving average of $399.55 and a 200-day simple moving average of $355.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.48 and a current ratio of 1.52.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share 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 during the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the company earned $8.84 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 27.05 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is currently 29.26%.

Insider Activity at Elevance Health

In other 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 transaction of $60,667.27. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Key Elevance Health News

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

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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