Western Wealth Management LLC Buys 2,516 Shares of Elevance Health, Inc. $ELV

Western Wealth Management LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 205.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,738 shares of the company’s stock after buying an additional 2,516 shares during the period. Western Wealth Management LLC’s holdings in Elevance Health were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Elevance Health by 23.2% during the 1st quarter. Bank of America Corp DE now owns 2,718,766 shares of the company’s stock valued at $795,919,000 after acquiring an additional 511,626 shares during the period. Edgestream Partners L.P. raised its stake in Elevance Health by 51.6% during the 1st quarter. Edgestream Partners L.P. now owns 1,572 shares of the company’s stock worth $460,000 after acquiring an additional 535 shares during the period. South Dakota Investment Council lifted its holdings in Elevance Health by 7.9% during the first quarter. South Dakota Investment Council now owns 121,181 shares of the company’s stock valued at $35,476,000 after purchasing an additional 8,883 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Elevance Health by 42,311.1% during the first quarter. Sunbelt Securities Inc. now owns 3,817 shares of the company’s stock valued at $1,117,000 after purchasing an additional 3,808 shares in the last quarter. Finally, Amundi boosted its position in shares of Elevance Health by 145.7% in the first quarter. Amundi now owns 2,693,664 shares of the company’s stock worth $788,570,000 after purchasing an additional 1,597,497 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of analyst reports. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research note on Tuesday, July 7th. Jefferies Financial Group dropped their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Robert W. Baird increased their price target on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Guggenheim raised their price target on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $375.44 on Monday. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.16 and a beta of 0.68. The firm has a fifty day moving average price of $397.01 and a 200 day moving average price of $356.68. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $436.24. 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 (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.84 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is 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.