Moran Wealth Management LLC Boosts Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Moran Wealth Management increased its stake in Elevance Health by 14.2% in the first quarter, buying 4,577 additional shares and bringing its total holdings to 36,879 shares worth about $10.8 million.
• Institutional ownership remains very high, with 89.24% of Elevance Health shares held by institutions. Several large investors, including Norges Bank, Wellington Management, and Price T Rowe, also recently expanded their positions.
• Elevance Health reported stronger-than-expected quarterly results, posting EPS of $12.58 versus the $10.74 estimate and revenue of $49.49 billion, while analysts currently maintain a consensus rating of “Moderate Buy” with a target price of $419.16.

Moran Wealth Management LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,879 shares of the company's stock after purchasing an additional 4,577 shares during the period. Moran Wealth Management LLC's holdings in Elevance Health were worth $10,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Norges Bank purchased a new position in Elevance Health in the 4th quarter valued at approximately $1,058,165,000. Wellington Management Group LLP lifted its position in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock worth $2,610,261,000 after acquiring an additional 1,607,274 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company's stock worth $1,368,505,000 after acquiring an additional 1,306,390 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Elevance Health by 79.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company's stock worth $844,371,000 after acquiring an additional 1,065,065 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Guggenheim raised their target price on Elevance Health from $396.00 to $399.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday. Truist Financial upped their price target on Elevance Health from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Monday, June 1st. Finally, The Goldman Sachs Group increased their price target on shares of Elevance Health from $350.00 to $370.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $419.16.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Elevance Health Trading Down 0.2%

Elevance Health stock opened at $416.97 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $427.19. The stock has a market cap of $90.55 billion, a P/E ratio of 17.74, a PEG ratio of 2.37 and a beta of 0.67. The firm's fifty day moving average price is $391.29 and its 200-day moving average price is $351.14.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter last year, the company earned $11.97 earnings per share. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts forecast that Elevance Health, Inc. will post 26.86 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 29.26%.

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.

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