Corient Private Wealth LP Takes $28.20 Million Position in Elevance Health, Inc. $ELV

Corient Private Wealth LP bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 72,921 shares of the company’s stock, valued at approximately $28,201,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Elevance Health in the second quarter worth about $7,344,424,000. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership raised its holdings in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after buying an additional 24,271 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ELV. The Goldman Sachs Group reissued a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Bank of America lifted 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. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Mizuho increased their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $399.17 on Friday. The firm has a market cap of $86.57 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The firm’s 50-day simple moving average is $395.23 and its 200-day simple moving average is $361.82. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion for 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 business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.84 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is 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.