Elevance Health, Inc. $ELV Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 22.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,575 shares of the company’s stock after acquiring an additional 4,828 shares during the period. HB Wealth Management LLC’s holdings in Elevance Health were worth $8,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Norges Bank acquired a new position in Elevance Health during the 2nd quarter valued at approximately $1,148,379,000. Sanders Capital LLC lifted its stake in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new position in shares of Elevance Health during the second quarter valued at $293,141,000. Vanguard Group Inc. grew its position in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after acquiring an additional 704,790 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Elevance Health by 30.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after acquiring an additional 487,579 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE ELV opened at $374.85 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $337.08 and a two-hundred day moving average of $328.63. The company has a market capitalization of $83.31 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.89 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Bank of America raised their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings cut Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $320.00 price target (down from $332.00) on shares of Elevance Health in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell 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 $400.20.

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.