True Freedom Investing LLC Invests $3.81 Million in Elevance Health, Inc. $ELV

True Freedom Investing LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, HoldingsChannel reports. The firm purchased 13,017 shares of the company’s stock, valued at approximately $3,811,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Elevance Health during the 2nd quarter worth $7,344,424,000. Wellington Management Group LLP increased its position in Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after buying an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after acquiring an additional 24,271 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.1%

Shares of ELV stock opened at $400.66 on Friday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm has a market capitalization of $86.89 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The stock has a fifty day moving average of $394.76 and a two-hundred day moving average of $359.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

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 return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period last year, the company earned $8.84 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business 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 $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Analyst Ratings Changes

Several research firms have recently commented on ELV. Cantor Fitzgerald upped their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. UBS Group lifted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Bank of America upped their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Profile

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.