1,536 Shares in Elevance Health, Inc. $ELV Acquired by PCM Encore LLC

PCM Encore LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, Holdings Channel reports. The fund acquired 1,536 shares of the company’s stock, valued at approximately $594,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter valued at $32,000. WealthCollab LLC grew its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Elevation Wealth Partners LLC grew its position in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the last quarter. Finally, Tacita Capital Inc acquired a new stake in shares of Elevance Health in the 2nd quarter worth about $44,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a research report on Tuesday, July 7th. Morgan Stanley raised their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Mizuho boosted their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Down 0.3%

ELV opened at $397.15 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $86.13 billion, a PE ratio of 17.65, a P/E/G ratio of 2.29 and a beta of 0.68. The stock’s fifty day moving average is $394.82 and its 200-day moving average is $359.63. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the business posted $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

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.