OneDigital Investment Advisors LLC Invests $3.10 Million in Elevance Health, Inc. $ELV

OneDigital Investment Advisors LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,013 shares of the company’s stock, valued at approximately $3,099,000.

Several other hedge funds have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter worth $32,000. WealthCollab LLC lifted its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health in the fourth quarter valued at $38,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of NYSE ELV opened at $400.63 on Monday. The company has a market capitalization of $86.88 billion, a PE ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The firm has a fifty day simple moving average of $396.05 and a 200 day simple moving average of $358.01.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Raymond James Financial set a $450.00 target price on Elevance Health in a research report on Tuesday, July 7th. Mizuho upped their price target on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Royal Bank Of Canada decreased their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Cantor Fitzgerald lifted their price objective on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $440.90.

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.