TD Waterhouse Canada Inc. Has $9.40 Million Stock Position in Elevance Health, Inc. $ELV

Key Points

• TD Waterhouse Canada reduced its Elevance Health position by 36.8% in the second quarter, selling 13,150 shares and retaining 22,598 shares valued at approximately $9.4 million. Institutional investors collectively own 89.24% of the company.
• Analysts remain broadly positive, with 15 Buy and eight Hold ratings, a consensus “Moderate Buy” rating, and an average price target of $440.90 versus the stock’s reported opening price of $407.05.
• Elevance Health exceeded quarterly expectations, reporting $7.45 in adjusted EPS and $49.83 billion in revenue, while approving a quarterly dividend of $1.72 per share, equivalent to a 1.7% annualized yield.

TD Waterhouse Canada Inc. lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,598 shares of the company's stock after selling 13,150 shares during the period. TD Waterhouse Canada Inc.'s holdings in Elevance Health were worth $9,403,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Stoneridge Investment Partners LLC bought a new position in Elevance Health during the second quarter worth $970,000. Manning & Napier Advisors LLC raised its position 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 purchasing an additional 344,237 shares during the period. State of Wyoming acquired a new stake in shares of Elevance Health during the 2nd quarter worth about $1,765,000. Mawer Investment Management Ltd. lifted its stake in shares of Elevance Health by 10.9% during the 4th 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. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Elevance Health during the 2nd quarter worth about $1,267,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial upped their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Mizuho boosted their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Barclays decreased their target price on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Leerink Partners increased their target price on Elevance Health from $364.00 to $395.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. 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 company has a consensus rating of "Moderate Buy" and an average target price of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company's stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $407.05 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $88.28 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a 50-day simple moving average of $396.72 and a two-hundred day simple moving average of $364.57.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the business posted $8.84 EPS. The business's revenue was up .8% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 27.18 EPS 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health's dividend payout ratio (DPR) is 30.58%.

Elevance Health Company 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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