Fullcircle Wealth LLC Increases Holdings in Elevance Health, Inc. $ELV

Fullcircle Wealth LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 31.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,214 shares of the company’s stock after buying an additional 530 shares during the quarter. Fullcircle Wealth LLC’s holdings in Elevance Health were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ELV. Private Wealth Management Group LLC raised its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $29,000. Glass Jacobson Investment Advisors llc raised its position in shares of Elevance Health by 400.0% during the 2nd 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 in the last quarter. Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $40,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $43,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Cowen restated a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. TD Cowen boosted their target price on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Mizuho set a $400.00 target price on Elevance Health in a research report on Monday. JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Robert W. Baird dropped their target price on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $397.33.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $313.10 on Tuesday. The firm has a market cap of $69.58 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The firm’s 50 day simple moving average is $329.04 and its 200-day simple moving average is $347.15. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for 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%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $8.37 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

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.