Wealthfront Advisers LLC Has $6.13 Million Stake in Elevance Health, Inc. $ELV

Wealthfront Advisers LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,750 shares of the company’s stock after purchasing an additional 2,042 shares during the period. Wealthfront Advisers LLC’s holdings in Elevance Health were worth $6,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% in the first 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 period. WPG Advisers LLC acquired a new stake in Elevance Health in the 1st quarter worth about $29,000. North Capital Inc. bought a new stake in Elevance Health in the 1st quarter valued at about $36,000. Saudi Central Bank acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $40,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the first quarter worth approximately $43,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ELV shares. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Thursday, October 23rd. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Barclays reduced their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. TD Cowen boosted their price target on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.44.

Elevance Health Stock Down 0.7%

ELV stock opened at $339.94 on Wednesday. The firm has a 50-day moving average price of $328.28 and a 200-day moving average price of $350.94. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $75.55 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $8.37 EPS. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

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.