Acumen Wealth Advisors LLC Has $2.03 Million Stock Position in Elevance Health, Inc. $ELV

Acumen Wealth Advisors LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 51.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,935 shares of the company’s stock after selling 7,357 shares during the period. Acumen Wealth Advisors LLC’s holdings in Elevance Health were worth $2,030,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Murphy Middleton Hinkle & Parker Inc. acquired a new position in Elevance Health during the fourth quarter worth about $5,941,000. Bright Rock Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $7,362,000. Exchange Traded Concepts LLC increased its position in Elevance Health by 58.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 52,295 shares of the company’s stock worth $18,332,000 after purchasing an additional 19,339 shares in the last quarter. SG Americas Securities LLC lifted its stake in Elevance Health by 6,237.6% in the 4th quarter. SG Americas Securities LLC now owns 235,253 shares of the company’s stock valued at $82,468,000 after purchasing an additional 231,541 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Elevance Health by 160.4% in the fourth quarter. M&T Bank Corp now owns 50,486 shares of the company’s stock valued at $17,698,000 after buying an additional 31,101 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Bank of America upped their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Morgan Stanley raised their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Finally, Mizuho boosted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Insider Transactions at Elevance Health

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 shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of ELV opened at $393.46 on Wednesday. The business has a 50-day moving average of $399.56 and a 200-day moving average of $355.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $85.33 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 27.08 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

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.