Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Ignite Planners LLC

Ignite Planners LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 28.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633 shares of the company’s stock after purchasing an additional 140 shares during the period. Ignite Planners LLC’s holdings in Elevance Health were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC grew its holdings in Elevance Health by 30.3% during the second quarter. Buckley Wealth Management LLC now owns 2,788 shares of the company’s stock worth $1,239,000 after acquiring an additional 648 shares during the period. Capital Investment Advisors LLC grew its stake in shares of Elevance Health by 31.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,138 shares of the company’s stock worth $505,000 after purchasing an additional 273 shares during the period. Janiczek Wealth Management LLC increased its holdings in shares of Elevance Health by 31.0% in the 2nd quarter. Janiczek Wealth Management LLC now owns 363 shares of the company’s stock valued at $161,000 after purchasing an additional 86 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Elevance Health in the second quarter valued at about $845,000. Finally, Level Four Advisory Services LLC boosted its holdings in Elevance Health by 4.4% during the second quarter. Level Four Advisory Services LLC now owns 2,536 shares of the company’s stock worth $1,127,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 target price on shares of Elevance Health in a report on Thursday, September 14th. Truist Financial lowered their price objective on shares of Elevance Health from $580.00 to $560.00 in a research note on Tuesday, June 20th. Morgan Stanley increased their price target on shares of Elevance Health from $571.00 to $585.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. JPMorgan Chase & Co. cut their price objective on Elevance Health from $572.00 to $535.00 in a research report on Friday, July 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 target price on shares of Elevance Health in a report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $568.46.

Elevance Health Price Performance

Elevance Health stock opened at $442.77 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $104.34 billion, a P/E ratio of 16.58, a PEG ratio of 1.11 and a beta of 0.83. The firm has a fifty day moving average of $456.14 and a 200-day moving average of $458.80. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $549.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 19th. The company reported $9.04 EPS for the quarter, beating the consensus estimate of $8.78 by $0.26. Elevance Health had a return on equity of 20.24% and a net margin of 3.87%. The company had revenue of $43.38 billion for the quarter, compared to analyst estimates of $41.64 billion. During the same period last year, the company posted $8.04 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 32.91 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, September 7th. Elevance Health’s dividend payout ratio (DPR) is 22.17%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 310 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $476.71, for a total value of $147,780.10. Following the completion of the transaction, the director now directly owns 9,638 shares in the company, valued at $4,594,530.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.