Corient Private Wealth LLC Acquires 7,315 Shares of Elevance Health, Inc. $ELV

Corient Private Wealth LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 67,261 shares of the company’s stock after buying an additional 7,315 shares during the quarter. Corient Private Wealth LLC’s holdings in Elevance Health were worth $23,579,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Sound View Wealth Advisors Group LLC raised its holdings in shares of Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after buying an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its position in Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC raised its stake in Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after acquiring an additional 29 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in shares of Elevance Health by 6.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.7%

Shares of NYSE:ELV opened at $394.98 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market cap of $85.77 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $426.98. The company’s 50-day moving average price is $376.85 and its two-hundred day moving average price is $347.48.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the business earned $11.97 earnings per share. Elevance Health’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. As a group, research analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. 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 dividend payout ratio is currently 29.26%.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the 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 transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELV. Evercore reissued a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Guggenheim raised their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Sanford C. Bernstein lifted their target price on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Leerink Partners set a $364.00 target price on Elevance Health in a report on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $416.11.

About Elevance Health

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.