Wealthspire Advisors LLC Boosts Holdings in Elevance Health, Inc. $ELV

Wealthspire Advisors LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 118.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,313 shares of the company’s stock after purchasing an additional 712 shares during the period. Wealthspire Advisors LLC’s holdings in Elevance Health were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. WPG Advisers LLC acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $29,000. BOK Financial Private Wealth Inc. acquired a new position in Elevance Health during the second quarter worth $32,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the period. Saudi Central Bank acquired a new stake in shares of Elevance Health in the first quarter valued at $40,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Elevance Health in the 2nd quarter valued at $43,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $321.73 on Friday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock has a market capitalization of $71.50 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.23 and a beta of 0.60. The company has a 50-day simple moving average of $330.76 and a 200-day simple moving average of $338.63. 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 (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the firm posted $8.37 EPS. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio is 27.96%.

Analysts Set New Price Targets

ELV has been the topic of several research reports. Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price on the stock. Bank of America boosted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Robert W. Baird reduced their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Finally, Morgan Stanley lifted their target price on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $397.33.

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.