Elyxium Wealth LLC Buys New Shares in Elevance Health, Inc. $ELV

Elyxium Wealth LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 609 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC increased its stake in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new position in Elevance Health in the first quarter valued at $29,000. Saudi Central Bank bought a new position in Elevance Health in the first quarter valued at $40,000. Berbice Capital Management LLC bought a new position in shares of Elevance Health during the first quarter valued at about $43,000. Finally, Glass Jacobson Investment Advisors llc grew its stake in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $316.67 on Wednesday. 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 $329.18 and a 200-day moving average of $346.39. The firm has a market cap of $70.38 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $8.37 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In related news, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELV. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Mizuho reduced their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Finally, Morgan Stanley raised their price objective on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $397.33.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.