Elevance Health, Inc. $ELV Stock Holdings Lifted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 75.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 983 shares of the company’s stock after purchasing an additional 423 shares during the period. Resonant Capital Advisors LLC’s holdings in Elevance Health were worth $382,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC raised its position in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Elevance Health during the 1st quarter valued at $29,000. North Capital Inc. acquired a new stake in shares of Elevance Health in the 1st quarter valued at $36,000. Saudi Central Bank acquired a new stake in shares of Elevance Health in the 1st quarter valued at $40,000. Finally, Berbice Capital Management LLC bought a new stake in Elevance Health in the first quarter worth $43,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELV has been the subject of a number of analyst reports. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Barclays decreased their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $397.89.

Elevance Health Stock Performance

NYSE:ELV opened at $341.90 on Tuesday. The firm’s 50-day moving average is $327.73 and its 200-day moving average is $351.61. The company has a market cap of $75.98 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.25 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period last year, the business earned $8.37 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s payout ratio is currently 27.96%.

Insider Buying and Selling

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.