Wedmont Private Capital Has $1.29 Million Stock Holdings in Elevance Health, Inc. $ELV

Wedmont Private Capital lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 115.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,095 shares of the company’s stock after purchasing an additional 1,658 shares during the quarter. Wedmont Private Capital’s holdings in Elevance Health were worth $1,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. increased its position in Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after buying an additional 11,745 shares during the last quarter. Glenview Trust co lifted its position in shares of Elevance Health by 41.5% in the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after buying an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after acquiring an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after acquiring an additional 23,180 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Robert Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Royal Bank Of Canada lowered their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Morgan Stanley boosted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Finally, Mizuho raised their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Stock Down 1.3%

Shares of ELV stock opened at $402.04 on Wednesday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $87.19 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. The stock has a 50 day moving average of $397.41 and a 200-day moving average of $365.53.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (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 business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the company posted $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.