Hurlow Wealth Management Group Inc. Acquires Shares of 1,381 Elevance Health, Inc. $ELV

Hurlow Wealth Management Group Inc. purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,381 shares of the company’s stock, valued at approximately $534,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Elevance Health in the second quarter valued at about $7,344,424,000. Wellington Management Group LLP lifted its holdings in shares of Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after buying an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after buying an additional 24,271 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $399.35 on Wednesday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a market cap of $86.61 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.30 and a beta of 0.68. The business’s 50 day moving average is $394.99 and its two-hundred day moving average is $358.90. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

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 the consensus estimate 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 analysts’ expectations of $48.88 billion. During the same quarter last year, the company earned $8.84 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend 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%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ELV shares. Royal Bank Of Canada dropped their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Robert W. Baird increased their target price on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price objective on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Finally, Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Elevance Health 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.