Global Retirement Partners LLC Takes $2.40 Million Position in Elevance Health, Inc. $ELV

Global Retirement Partners LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel reports. The firm purchased 6,211 shares of the company’s stock, valued at approximately $2,402,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in Elevance Health in the 4th quarter worth about $32,000. WealthCollab LLC increased its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Elevation Wealth Partners LLC increased its position in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the period. Finally, 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. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction 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 owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday, July 16th. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Bank of America increased their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Up 0.1%

NYSE:ELV opened at $400.63 on Monday. The company’s 50-day simple moving average is $396.05 and its 200-day simple moving average is $358.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The stock has a market capitalization of $86.88 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the business posted $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is presently 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.