Atlas Wealth LLC Buys 336,143 Shares of Elevance Health, Inc. $ELV

Atlas Wealth LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 41,499.1% in the first quarter, Holdings Channel.com reports. The firm owned 336,953 shares of the company’s stock after acquiring an additional 336,143 shares during the quarter. Elevance Health comprises about 12.1% of Atlas Wealth LLC’s portfolio, making the stock its largest position. Atlas Wealth LLC’s holdings in Elevance Health were worth $98,643,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ELV. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the 4th quarter valued at $32,000. ORG Partners LLC lifted its stake in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health during the fourth quarter worth about $38,000. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health in the first quarter worth about $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ELV. Leerink Partners raised their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Morgan Stanley increased their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Truist Financial boosted their target price on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Guggenheim raised their price target on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Key Stories Impacting Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $372.68 on Friday. The business’s fifty day moving average price is $399.55 and its two-hundred day moving average price is $355.35. The firm has a market capitalization of $80.82 billion, a PE ratio of 16.56, a P/E/G ratio of 2.10 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $8.84 EPS. On average, research analysts expect that Elevance Health, Inc. will post 27.05 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. 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 payout ratio 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.