Moran Wealth Management LLC Increases Position in Elevance Health, Inc. $ELV

Moran Wealth Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 14.2% during the first quarter, Holdings Channel reports. The fund owned 36,879 shares of the company’s stock after acquiring an additional 4,577 shares during the period. Moran Wealth Management LLC’s holdings in Elevance Health were worth $10,796,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health in the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the 4th quarter valued at about $32,000. ORG Partners LLC raised its holdings in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Dorato Capital Management bought a new stake in Elevance Health in the 4th quarter worth approximately $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Elevance Health in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.2%

Shares of NYSE ELV opened at $416.97 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $427.19. The firm’s fifty day moving average is $391.29 and its 200 day moving average is $351.14. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.37 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio is currently 29.26%.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein upped their price objective on shares of Elevance Health from $424.00 to $482.00 and gave the company an “outperform” rating in a research note on Thursday. Guggenheim increased their target price on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Leerink Partners set a $364.00 target price on shares of Elevance Health in a research report on Thursday, April 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $419.16.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.