Elevance Health, Inc. $ELV Position Boosted by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 248.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,669 shares of the company’s stock after purchasing an additional 1,190 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Elevance Health were worth $661,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Verdence Capital Advisors LLC grew its position in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares during the last quarter. World Investment Advisors grew its position in Elevance Health by 17.0% in the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after buying an additional 3,988 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares during the last quarter. Focus Partners Wealth grew its position in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares during the last quarter. Finally, Asio Capital LLC grew its position in Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock worth $5,979,000 after buying an additional 1,015 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ELV shares. Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein lowered their price objective 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. Truist Financial set a $400.00 price objective on shares of Elevance Health in a research report on Tuesday, October 14th. The Goldman Sachs Group began coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective on the stock. Finally, Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $398.44.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Elevance Health Trading Down 1.5%

Shares of NYSE:ELV opened at $317.05 on Monday. The firm has a fifty day moving average of $329.07 and a two-hundred day moving average of $347.93. The firm has a market capitalization of $70.46 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Elevance Health 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.