Trillium Asset Management LLC Acquires Shares of 20,852 Elevance Health, Inc. $ELV

Trillium Asset Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,852 shares of the company’s stock, valued at approximately $8,064,000.

A number of other hedge funds have also modified their holdings of the business. WealthCollab LLC raised its position in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health in the fourth quarter valued at $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $38,000. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health in the first quarter valued at about $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred 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 sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Trading Down 0.3%

Shares of Elevance Health stock opened at $397.15 on Friday. The firm has a market cap of $86.13 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company’s 50-day simple moving average is $394.82 and its 200-day simple moving average is $359.63. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the firm earned $8.84 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. Barclays lowered their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, UBS Group boosted their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company 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.