MidFirst Bank Invests $6.44 Million in Elevance Health, Inc. $ELV

MidFirst Bank acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,659 shares of the company’s stock, valued at approximately $6,442,000.

Several other institutional investors have also added to or reduced their stakes in the business. WealthCollab LLC raised its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the fourth quarter valued at $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the 4th quarter valued at $38,000. Finally, Main Street Group LTD purchased a new stake in Elevance Health during the 1st quarter worth about $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Leerink Partners lifted their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Guggenheim increased their price target on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Barclays decreased their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Performance

NYSE:ELV opened at $390.69 on Tuesday. The stock has a market cap of $84.73 billion, a P/E ratio of 17.36, a PEG ratio of 2.30 and a beta of 0.68. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $395.48 and its two-hundred day moving average price is $358.49. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.84 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

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