Elevance Health, Inc. $ELV Position Boosted by Assetmark Inc.

Assetmark Inc. boosted its position in Elevance Health, Inc. (NYSE:ELV) by 37.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,525 shares of the company’s stock after buying an additional 39,837 shares during the quarter. Assetmark Inc. owned approximately 0.07% of Elevance Health worth $42,602,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELV. Main Street Group LTD acquired a new position in shares of Elevance Health during the first quarter valued at $39,000. Bank of New York Mellon Corp increased its holdings in shares of Elevance Health by 18.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,845,280 shares of the company’s stock worth $832,956,000 after acquiring an additional 436,576 shares during the period. Signet Financial Management LLC increased its holdings in shares of Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after acquiring an additional 28 shares during the period. Checchi Capital Advisers LLC lifted its position in Elevance Health by 11.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,194 shares of the company’s stock valued at $642,000 after purchasing an additional 222 shares during the last quarter. Finally, AMG National Trust Bank boosted its stake in Elevance Health by 84.7% during the 1st quarter. AMG National Trust Bank now owns 7,300 shares of the company’s stock valued at $2,137,000 after purchasing an additional 3,348 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other 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 transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Down 0.0%

NYSE ELV opened at $372.68 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48. The company’s 50 day simple moving average is $399.55 and its 200 day simple moving average is $355.35. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The company has a market capitalization of $80.82 billion, a P/E ratio of 16.56, a PEG ratio of 2.10 and a beta of 0.67.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $8.84 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 27.05 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 29.26%.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. Morgan Stanley increased their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. UBS Group raised their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Bank of America lifted their target price on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Trending Headlines about Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

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.