Robertson Stephens Wealth Management LLC Raises Position in Elevance Health, Inc. $ELV

Robertson Stephens Wealth Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,876 shares of the company’s stock after buying an additional 126 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Elevance Health were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Orbis Allan Gray Ltd raised its position in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after acquiring an additional 324,040 shares during the last quarter. Invesco Ltd. raised its position in Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after acquiring an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock worth $845,394,000 after acquiring an additional 29,174 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial cut their target price on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Robert W. Baird reduced their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Bank of America upped their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, Leerink Partners reissued a “market perform” rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $412.00.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $353.29 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.31 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. The firm’s 50 day moving average is $315.10 and its two-hundred day moving average is $359.18.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same period in the previous year, the company earned $10.12 EPS. Elevance Health’s revenue was up 14.3% on a year-over-year basis. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio is presently 29.11%.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.