Wealthspire Advisors LLC Purchases 712 Shares of Elevance Health, Inc. $ELV

Wealthspire Advisors LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 118.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,313 shares of the company’s stock after purchasing an additional 712 shares during the quarter. Wealthspire Advisors LLC’s holdings in Elevance Health were worth $511,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ELV. WPG Advisers LLC purchased a new stake in shares of Elevance Health in the first quarter valued at approximately $29,000. BOK Financial Private Wealth Inc. bought a new stake in Elevance Health during the 2nd quarter valued at $32,000. Saudi Central Bank purchased a new stake in shares of Elevance Health in the 1st quarter worth $40,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Elevance Health during the 2nd quarter worth $43,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.5%

Elevance Health stock opened at $321.73 on Friday. The business’s 50-day simple moving average is $330.76 and its two-hundred day simple moving average is $338.63. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $71.50 billion, a PE ratio of 13.15, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Robert W. Baird reduced their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Guggenheim upped their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. TD Cowen increased their target price on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research report on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Hold” and a consensus price target of $397.33.

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.