Field & Main Bank Invests $728,000 in Elevance Health, Inc. $ELV

Field & Main Bank acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,883 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WealthCollab LLC lifted its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Signet Financial Management LLC increased its position 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 worth $245,000 after acquiring an additional 28 shares in the last quarter. Sapient Capital LLC raised its stake in shares of Elevance Health by 1.2% in 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 period. Mutual Advisors LLC lifted its holdings 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 in the last quarter. Finally, Waddell & Associates LLC lifted its holdings 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 valued at $435,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated 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 owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ELV. Wells Fargo & Company decreased their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Truist Financial boosted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Finally, Bank of America increased their target price on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Price Performance

ELV opened at $395.28 on Friday. The company has a fifty day simple moving average of $395.36 and a 200 day simple moving average of $362.06. The firm has a market cap of $85.72 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.28 and a beta of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. 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 (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the previous year, the firm posted $8.84 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 27.18 EPS 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. Investors of record on Thursday, September 10th will be paid 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 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.