VSM Wealth Advisory LLC Takes Position in Elevance Health, Inc. $ELV

VSM Wealth Advisory LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 156 shares of the company’s stock, valued at approximately $61,000.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Elevance Health in the first quarter valued at about $789,943,000. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 24.7% in the 2nd 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 period. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after buying an additional 704,790 shares during the period. Orbis Allan Gray Ltd grew its holdings in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the period. Finally, Boston Partners grew its holdings in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after acquiring an additional 605,689 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELV shares. Sanford C. Bernstein decreased their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Barclays decreased their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Mizuho reduced their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley upped their target price on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $397.33.

Elevance Health Stock Performance

Elevance Health stock opened at $324.64 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a fifty day moving average of $330.37 and a two-hundred day moving average of $339.63. The company has a market capitalization of $72.15 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Announces Dividend

The firm also recently declared 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 2.1%. Elevance Health’s payout ratio is 27.96%.

Elevance Health Company Profile

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.