Van Diest Capital LLC Has $1.28 Million Holdings in Elevance Health, Inc. $ELV

Van Diest Capital LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 225.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,388 shares of the company's stock after purchasing an additional 3,039 shares during the period. Elevance Health comprises 1.0% of Van Diest Capital LLC's holdings, making the stock its 22nd largest position. Van Diest Capital LLC's holdings in Elevance Health were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bright Rock Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $7,362,000. Exchange Traded Concepts LLC raised its holdings in shares of Elevance Health by 58.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 52,295 shares of the company's stock valued at $18,332,000 after purchasing an additional 19,339 shares during the last quarter. M&T Bank Corp lifted its position in shares of Elevance Health by 160.4% in the fourth quarter. M&T Bank Corp now owns 50,486 shares of the company's stock worth $17,698,000 after purchasing an additional 31,101 shares in the last quarter. HF Advisory Group LLC lifted its position in shares of Elevance Health by 1,797.0% in the fourth quarter. HF Advisory Group LLC now owns 152,705 shares of the company's stock worth $53,531,000 after purchasing an additional 144,655 shares in the last quarter. Finally, Solidarity Wealth LLC acquired a new position in Elevance Health during the fourth quarter worth $1,433,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Royal Bank Of Canada lowered their price target on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 16th. Leerink Partners increased their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Weiss Ratings upgraded Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Cantor Fitzgerald lifted their target price on Elevance Health from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley upped their target price on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health Price Performance

NYSE:ELV opened at $377.39 on Friday. The stock has a market capitalization of $81.84 billion, a PE ratio of 16.77, a P/E/G ratio of 2.17 and a beta of 0.67. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $436.24. The firm has a fifty day simple moving average of $398.69 and a 200 day simple moving average of $356.52. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.84 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 27.04 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's dividend payout ratio is presently 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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