Trajan Wealth LLC Invests $41.31 Million in Elevance Health, Inc. $ELV

Trajan Wealth LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 106,831 shares of the company’s stock, valued at approximately $41,315,000. Elevance Health comprises approximately 1.6% of Trajan Wealth LLC’s portfolio, making the stock its 18th largest holding.

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

Elevance Health Price Performance

ELV opened at $402.62 on Tuesday. The company has a market capitalization of $87.32 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.29 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. The business’s fifty day simple moving average is $394.79 and its 200-day simple moving average is $360.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the company posted $8.84 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.7%. Elevance Health’s payout ratio is currently 30.58%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ELV shares. Cantor Fitzgerald raised their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Citigroup raised shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Mizuho upped their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Robert W. Baird raised their target price on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s 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 owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.