Keudell Morrison Wealth Management Purchases Shares of 5,033 Elevance Health, Inc. $ELV

Key Points

• Keudell Morrison Wealth Management disclosed a new fourth-quarter position in Elevance Health, buying 5,033 shares valued at about $1.764 million.
• Other institutional investors also increased their holdings, and institutions now own 89.24% of Elevance Health’s shares.
• Elevance Health reported strong quarterly results, with EPS of $12.58 beating estimates and revenue of $49.49 billion, while analysts currently rate the stock Moderate Buy with a consensus price target of $396.16.

Keudell Morrison Wealth Management purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,033 shares of the company's stock, valued at approximately $1,764,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC raised its position in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock worth $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC raised its position in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock worth $289,000 after purchasing an additional 29 shares during the period. Perigon Wealth Management LLC raised its position in shares of Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after purchasing an additional 29 shares during the period. Savvy Advisors Inc. raised its position in shares of Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after purchasing an additional 30 shares during the period. Finally, Detalus Advisors LLC raised its position in shares of Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company's stock worth $558,000 after purchasing an additional 31 shares during the period. Institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Elevance Health from $424.00 to $391.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Mizuho upped their target price on Elevance Health from $385.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial lowered their target price on Elevance Health from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Sanford C. Bernstein upped their target price on Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Barclays upped their target price on Elevance Health from $393.00 to $408.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $396.16.

Elevance Health Trading Down 1.8%

Shares of Elevance Health stock opened at $389.17 on Friday. The stock has a fifty day simple moving average of $331.71 and a 200 day simple moving average of $335.84. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $408.00. The company has a market capitalization of $84.51 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.24 and a beta of 0.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the prior year, the company posted $11.97 earnings per share. Elevance Health's revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 26.94 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

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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