Mowery & Schoenfeld Wealth Management LLC Makes New Investment in Elevance Health, Inc. $ELV

Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, Holdings Channel reports. The fund purchased 1,511 shares of the company’s stock, valued at approximately $584,000. Elevance Health accounts for approximately 0.8% of Mowery & Schoenfeld Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also modified their holdings of ELV. WealthCollab LLC increased its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the fourth quarter worth about $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the 4th quarter worth about $38,000. Finally, Main Street Group LTD bought a new stake in shares of Elevance Health during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Robert W. Baird raised their price objective on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Barclays lowered their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. TD Cowen raised their target price on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group upped their price target on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $399.35 on Wednesday. The firm’s 50-day moving average is $394.99 and its 200-day moving average is $358.90. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-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. The company has a market cap of $86.61 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the business earned $8.84 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

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