MBB Public Markets I LLC Purchases New Shares in Elevance Health, Inc. $ELV

MBB Public Markets I LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 736 shares of the company’s stock, valued at approximately $320,000.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in Elevance Health in the 1st quarter valued at $299,000. GAMMA Investing LLC increased its stake in Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after buying an additional 1,588 shares during the period. Ritholtz Wealth Management increased its stake in Elevance Health by 185.7% in the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company’s stock valued at $1,341,000 after buying an additional 2,004 shares during the period. Sequoia Financial Advisors LLC increased its stake in Elevance Health by 15.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company’s stock valued at $2,922,000 after buying an additional 913 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Elevance Health by 36.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock valued at $11,991,000 after buying an additional 7,410 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were bought 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial dropped their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Robert W. Baird lowered their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. JPMorgan Chase & Co. lowered their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, UBS Group lowered their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $411.06.

Elevance Health Price Performance

Shares of NYSE ELV opened at $315.45 on Wednesday. The stock has a market cap of $71.03 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.13 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $559.95. The company’s 50-day moving average price is $308.80 and its 200 day moving average price is $372.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 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 analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.12 earnings per share. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s dividend payout ratio is presently 29.11%.

Elevance Health Company 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.