Elevance Health, Inc. $ELV Position Raised by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,559 shares of the company’s stock after acquiring an additional 48 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Elevance Health were worth $1,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ELV. GLOBALT Investments LLC GA lifted its holdings in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after buying an additional 24 shares during the period. Elser Financial Planning Inc lifted its stake in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management boosted its position in shares of Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after purchasing an additional 27 shares during the last quarter. Finally, Aspen Investment Management Inc grew its stake in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.9%

Elevance Health stock opened at $332.34 on Thursday. The company has a fifty day simple moving average of $305.54 and a 200 day simple moving average of $362.89. 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, Inc. has a 1-year low of $273.71 and a 1-year high of $510.24. The company has a market cap of $74.84 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59.

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

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s payout ratio is currently 29.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ELV. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, June 4th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Barclays raised their price objective on Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Morgan Stanley decreased their target price on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

Insider Activity

In related news, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.