NewEdge Advisors LLC Has $5.55 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• NewEdge Advisors increased its Elevance Health holdings by 21.4% in the first quarter, bringing its position to 18,964 shares valued at approximately $5.55 million. Institutional investors collectively own 89.24% of the company.
• Analyst sentiment remains favorable, with 15 Buy ratings and eight Holds; Elevance has a consensus rating of Moderate Buy and an average price target of $440.90.
• Elevance reported quarterly earnings of $7.45 per share, beating estimates by $1.24, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.8% annualized yield.

NewEdge Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,964 shares of the company's stock after buying an additional 3,343 shares during the quarter. NewEdge Advisors LLC's holdings in Elevance Health were worth $5,552,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELV. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter valued at approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health during the fourth quarter valued at approximately $38,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health in the first quarter valued at approximately $39,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELV. Evercore reaffirmed a "hold" rating on shares of Elevance Health in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. The Goldman Sachs Group reissued a "neutral" rating and set a $395.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. UBS Group upped their price target on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Finally, Weiss Ratings raised Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction 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 sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV opened at $389.39 on Wednesday. The firm's 50-day moving average is $396.46 and its 200-day moving average is $357.47. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market cap of $84.45 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $8.84 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health's dividend payout ratio is currently 30.58%.

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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