Wealthcare Advisory Partners LLC Grows Stake in Elevance Health, Inc. $ELV

Wealthcare Advisory Partners LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,006 shares of the company’s stock after acquiring an additional 67 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Elevance Health were worth $1,169,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ELV. NBC Securities Inc. purchased a new position in shares of Elevance Health during the first quarter valued at approximately $90,000. UMB Bank n.a. boosted its position in shares of Elevance Health by 5.1% during the first quarter. UMB Bank n.a. now owns 2,893 shares of the company’s stock valued at $1,258,000 after buying an additional 141 shares during the period. Wedmont Private Capital boosted its position in shares of Elevance Health by 32.6% during the first quarter. Wedmont Private Capital now owns 1,483 shares of the company’s stock valued at $652,000 after buying an additional 365 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Elevance Health by 9.4% during the first quarter. Miracle Mile Advisors LLC now owns 1,306 shares of the company’s stock valued at $568,000 after buying an additional 112 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in shares of Elevance Health by 10.8% during the first quarter. Capital Investment Advisors LLC now owns 822 shares of the company’s stock valued at $358,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays lifted their price target on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. UBS Group decreased their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Finally, Guggenheim decreased their price target on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $416.19.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $357.52 on Wednesday. The company has a market capitalization of $80.51 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. 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 firm has a 50 day moving average of $310.64 and a 200 day moving average of $360.12.

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

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were acquired 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 owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Company 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.