Assetmark Inc. Purchases 39,837 Shares of Elevance Health, Inc. $ELV

Assetmark Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 37.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 145,525 shares of the company’s stock after purchasing an additional 39,837 shares during the period. Assetmark Inc.’s holdings in Elevance Health were worth $42,602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $32,000. ORG Partners LLC lifted its position 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 bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $38,000. Finally, Main Street Group LTD bought a new stake in shares of Elevance Health during the first quarter valued at approximately $39,000. Institutional investors own 89.24% of the company’s stock.

Key Elevance Health News

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research note on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a research report on Thursday. Robert W. Baird raised their target price on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Leerink Partners lifted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health 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 sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction 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.

Elevance Health Stock Down 0.0%

ELV stock opened at $372.68 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48. The stock has a market capitalization of $80.82 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.10 and a beta of 0.67. The business has a 50-day moving average of $399.55 and a 200-day moving average of $355.35. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $436.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’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 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.05 earnings per share 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 given a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is presently 29.26%.

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.