1,883 Shares in Elevance Health, Inc. $ELV Bought by Field & Main Bank

Field & Main Bank acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,883 shares of the company’s stock, valued at approximately $728,000.

Other hedge funds also recently added to or reduced their stakes in the company. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC acquired a new position in Elevance Health in the second quarter worth about $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the fourth quarter valued at about $32,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health during the first quarter valued at approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, Morgan Stanley lifted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’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 completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was 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 the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Down 1.0%

NYSE:ELV opened at $395.28 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $395.36 and a 200-day moving average of $362.06. The firm has a market capitalization of $85.72 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.28 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 announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (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 business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the business posted $8.84 EPS. The business’s revenue was up .8% on a year-over-year basis. Analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

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

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.