EP Wealth Advisors LLC Invests $2.31 Million in Elevance Health, Inc. $ELV

EP Wealth Advisors LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,972 shares of the company's stock, valued at approximately $2,309,000.

Other hedge funds have also added to or reduced their stakes in the company. Stoneridge Investment Partners LLC bought a new stake in shares of Elevance Health during the 2nd quarter worth approximately $970,000. Solidarity Wealth LLC bought a new position in shares of Elevance Health in the fourth quarter valued at $1,433,000. Manning & Napier Advisors LLC grew its stake in shares of Elevance Health by 1,423.1% in the fourth 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 in the last quarter. State of Wyoming acquired a new position in Elevance Health during the second quarter worth $1,765,000. Finally, Mawer Investment Management Ltd. increased its holdings 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 buying an additional 20,438 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELV shares. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. The Goldman Sachs Group reissued a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Evercore restated a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Elevance Health in a report on Thursday, August 13th. Finally, UBS Group raised their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health Stock Up 1.1%

ELV stock opened at $400.66 on Friday. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The business's 50 day simple moving average is $394.76 and its 200 day simple moving average is $359.92. 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 firm has a market capitalization of $86.89 billion, a PE ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm posted $8.84 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate 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. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health's dividend payout ratio is presently 30.58%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company's stock.

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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