Corient Private Wealth LP Acquires 2,703 Shares of Elevance Health, Inc. $ELV

Corient Private Wealth LP lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,921 shares of the company’s stock after buying an additional 2,703 shares during the quarter. Corient Private Wealth LP’s holdings in Elevance Health were worth $28,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthCollab LLC grew its position in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Kilter Group LLC purchased a new stake in Elevance Health in the second quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health during the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health during the fourth quarter valued at $32,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health in the first quarter worth about $39,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ELV. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays reduced their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Robert W. Baird lifted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Guggenheim boosted their price target on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Insiders Place Their Bets

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

Elevance Health Stock Performance

Shares of ELV stock opened at $399.17 on Friday. The firm has a market cap of $86.57 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. 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 company’s 50 day moving average is $395.23 and its 200 day moving average is $361.82.

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 return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.84 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.

About Elevance Health

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.