Tocqueville Asset Management L.P. Acquires New Position in Elevance Health, Inc. $ELV

Tocqueville Asset Management L.P. bought a new position in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,871 shares of the company’s stock, valued at approximately $1,497,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. WealthCollab LLC lifted its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Signet Financial Management LLC grew its holdings in shares of Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after purchasing an additional 28 shares during the last quarter. Sapient Capital LLC raised its position in Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock worth $765,000 after purchasing an additional 31 shares during the period. Mutual Advisors LLC lifted its stake in Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after purchasing an additional 32 shares during the last quarter. Finally, Waddell & Associates LLC lifted its stake in Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred 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 sale, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Leerink Partners boosted their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Barclays decreased their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada lowered their price objective on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

ELV stock opened at $397.15 on Friday. The stock has a market capitalization of $86.13 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.29 and a beta of 0.68. The firm’s 50-day moving average price is $394.82 and its two-hundred day moving average price is $359.63. 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, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results 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 company had revenue of $49.83 billion during 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%. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $8.84 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is presently 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.