Elevance Health, Inc. (NYSE:ELV) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,764 shares of the company’s stock after purchasing an additional 4,266 shares during the period. Assetmark Inc.’s holdings in Elevance Health were worth $18,166,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth about $25,000. Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after buying an additional 67 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the 4th quarter valued at about $29,000. Finally, North Capital Inc. bought a new stake in Elevance Health in the 1st quarter valued at about $36,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $289.11 on Friday. Elevance Health, Inc. has a 12-month low of $274.40 and a 12-month high of $567.26. The business’s fifty day moving average is $360.79 and its 200 day moving average is $392.64. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market cap of $65.10 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.06 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $10.12 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.37%. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. JPMorgan Chase & Co. decreased their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Barclays lowered their price objective on shares of Elevance Health from $434.00 to $358.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $418.19.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.