8,013 Shares in Elevance Health, Inc. $ELV Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, HoldingsChannel reports. The fund purchased 8,013 shares of the company’s stock, valued at approximately $3,099,000.

Several other institutional investors have also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the 4th quarter valued at about $32,000. WealthCollab LLC raised its stake in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Elevation Wealth Partners LLC raised its stake in Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ELV shares. Mizuho raised their price objective on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Raymond James Financial set a $450.00 target price on Elevance Health in a research report on Tuesday, July 7th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Price Performance

ELV stock opened at $400.63 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The business has a 50-day simple moving average of $396.05 and a two-hundred day simple moving average of $358.01. The company has a market capitalization of $86.88 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week 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. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the prior year, the business posted $8.84 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect 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. Investors of record on Thursday, September 10th will be given a $1.72 dividend. 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 is presently 30.58%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

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.