Diversify Advisory Services LLC Takes Position in Elevance Health, Inc. $ELV

Diversify Advisory Services LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,198 shares of the company’s stock, valued at approximately $831,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. WealthCollab LLC boosted its holdings 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 in the last quarter. Signet Financial Management LLC increased its holdings in shares of Elevance Health by 3.5% in the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after buying an additional 28 shares in the last quarter. Sapient Capital LLC lifted its position in shares of Elevance Health by 1.2% during the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after acquiring an additional 31 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Elevance Health by 1.4% during the 4th quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock valued at $803,000 after acquiring an additional 32 shares during the last quarter. Finally, Waddell & Associates LLC boosted its stake in shares of Elevance Health by 2.6% during the 4th quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after acquiring an additional 32 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $397.15 on Friday. The stock has a market cap of $86.13 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The business has a fifty day simple moving average of $394.82 and a 200-day simple moving average of $359.63. 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 12 month low of $274.84 and a 12 month high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.84 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ELV shares. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. TD Cowen increased their price target on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research note on Thursday, July 16th. Truist Financial boosted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently 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.