Glenview Trust Co Purchases New Shares in Elevance Health, Inc. $ELV

Glenview Trust Co acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,502 shares of the company’s stock, valued at approximately $440,000.

Several other institutional investors have also recently made changes to their positions in the company. Kilter Group LLC bought a new position in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health during the fourth quarter worth $32,000. WealthCollab LLC lifted its holdings in 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 period. Finally, Elevation Wealth Partners LLC boosted its position in Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $395.28 on Friday. The firm has a market capitalization of $85.72 billion, a P/E ratio of 17.57, a PEG ratio of 2.26 and a beta of 0.68. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The business has a fifty day moving average price of $395.36 and a 200-day moving average price of $362.06.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Barclays lowered their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. UBS Group lifted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $440.90.

Insider Activity

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

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.