Total Clarity Wealth Management Inc. Buys New Position in Elevance Health, Inc. $ELV

Total Clarity Wealth Management Inc. bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,483 shares of the company’s stock, valued at approximately $434,000.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in Elevance Health in the 4th quarter valued at $1,058,165,000. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Elevance Health by 27.5% during the fourth 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 last quarter. Invesco Ltd. raised its position in shares of Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after buying an additional 1,306,390 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Elevance Health by 79.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after buying an additional 1,065,065 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction 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. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $395.97 on Wednesday. The firm has a market capitalization of $85.99 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.23 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98. The firm has a 50-day moving average price of $378.53 and a 200 day moving average price of $347.94.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. During the same period in the previous year, the business earned $11.97 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts anticipate that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s payout ratio is currently 29.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group lowered their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Mizuho raised their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Citigroup raised Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Finally, Barclays raised their target price on Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $416.11.

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.