Vestmark Advisory Solutions Inc. Acquires Shares of 1,877 Elevance Health, Inc. $ELV

Vestmark Advisory Solutions Inc. bought a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,877 shares of the company’s stock, valued at approximately $730,000.

A number of other large investors have also recently made changes to their positions in the stock. Verdence Capital Advisors LLC lifted its holdings in shares of Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares during the period. World Investment Advisors increased its stake in shares of Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after buying an additional 3,988 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after buying an additional 817 shares during the period. Focus Partners Wealth raised its holdings in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after acquiring an additional 982 shares in the last quarter. Finally, Asio Capital LLC lifted its stake in Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock worth $5,979,000 after acquiring an additional 1,015 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought 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 approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. TD Cowen lifted their price objective on shares of Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Argus reissued a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $397.33.

Elevance Health Stock Up 3.7%

Elevance Health stock opened at $315.06 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The business has a fifty day moving average price of $328.95 and a 200-day moving average price of $342.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $70.02 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates 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 was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $8.37 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm 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 is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

About Elevance Health

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.