Greenup Street Wealth Management LLC Increases Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Greenup Street Wealth Management increased its Elevance Health stake by 67.5% in the first quarter, ending with 10,163 shares valued at about $2.98 million.
• Elevance Health reported stronger-than-expected quarterly results, with $12.58 EPS and $49.49 billion in revenue, both ahead of analyst estimates.
• The company also announced a quarterly dividend of $1.72 per share, while Wall Street sentiment remains upbeat with a consensus Moderate Buy rating and an average price target of $416.11.

Greenup Street Wealth Management LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 67.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,163 shares of the company's stock after acquiring an additional 4,095 shares during the quarter. Greenup Street Wealth Management LLC's holdings in Elevance Health were worth $2,975,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock valued at $1,410,219,000 after buying an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Elevance Health by 50.3% in the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company's stock worth $1,368,505,000 after buying an additional 1,306,390 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

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 transaction, the director owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Elevance Health Stock Down 2.9%

Shares of NYSE ELV opened at $383.78 on Thursday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98. The stock has a market cap of $83.34 billion, a PE ratio of 16.32, a P/E/G ratio of 2.24 and a beta of 0.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $379.89 and a 200 day moving average of $348.29.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. Elevance Health's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Barclays boosted their price objective on Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on Elevance Health from $411.00 to $476.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Truist Financial lifted their price target on Elevance Health from $375.00 to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Robert W. Baird boosted their price target on Elevance Health from $317.00 to $331.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Finally, Mizuho increased their price objective on Elevance Health from $435.00 to $465.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $416.11.

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.