Simon Quick Advisors LLC Increases Stock Position in Elevance Health, Inc. $ELV

Simon Quick Advisors LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 67.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,296 shares of the company’s stock after purchasing an additional 523 shares during the period. Simon Quick Advisors LLC’s holdings in Elevance Health were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AdvisorShares Investments LLC lifted its stake in shares of Elevance Health by 16.8% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,168 shares of the company’s stock worth $454,000 after purchasing an additional 168 shares during the period. Atria Investments Inc lifted its stake in shares of Elevance Health by 23.8% in the 2nd quarter. Atria Investments Inc now owns 19,276 shares of the company’s stock worth $7,498,000 after purchasing an additional 3,703 shares during the period. Savvy Advisors Inc. bought a new position in Elevance Health in the 2nd quarter worth $315,000. Assetmark Inc. raised its holdings in Elevance Health by 62.1% in the 2nd quarter. Assetmark Inc. now owns 67,697 shares of the company’s stock worth $26,332,000 after purchasing an additional 25,933 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Elevance Health by 116.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 277 shares of the company’s stock worth $108,000 after purchasing an additional 149 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Argus reaffirmed a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Guggenheim increased their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley increased their target price on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Finally, TD Cowen increased their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $398.44.

Elevance Health Trading Down 1.5%

ELV stock opened at $317.05 on Friday. The company has a market capitalization of $70.46 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The business has a 50 day simple moving average of $329.07 and a two-hundred day simple moving average of $348.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $8.37 EPS. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health’s payout ratio is currently 27.96%.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

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.