Vista Investment Management Takes $2.14 Million Position in Elevance Health, Inc. $ELV

Vista Investment Management bought a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent filing with the SEC. The firm bought 5,540 shares of the company’s stock, valued at approximately $2,142,000.

Several other institutional investors have also recently bought and sold shares of ELV. Sei Investments Co. grew its holdings in shares of Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after buying an additional 11,745 shares during the last quarter. Glenview Trust co boosted its stake in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Elevance Health by 5.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after buying an additional 23,180 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health 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 transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELV. 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 note on Friday, May 22nd. Wells Fargo & Company cut their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Mizuho lifted their price target on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Performance

Shares of ELV opened at $400.66 on Friday. The stock has a fifty day moving average price of $394.76 and a 200-day moving average price of $359.92. The firm has a market cap of $86.89 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 current ratio of 1.52, a quick 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 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.84 EPS. Equities research analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

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.