2,060 Shares in Elevance Health, Inc. $ELV Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,060 shares of the company’s stock, valued at approximately $797,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Elevance Health during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $32,000. WealthCollab LLC lifted its holdings in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Elevation Wealth Partners LLC grew its position in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 2.3%

Shares of NYSE ELV opened at $399.35 on Wednesday. The firm has a market cap of $86.61 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm’s 50 day moving average price is $394.99 and its 200 day moving average price is $358.90.

Elevance Health (NYSE:ELV) last issued its quarterly 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 company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the firm posted $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current 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 given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is 30.58%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent research reports. Mizuho upped their target price on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Guggenheim raised their price target on Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Bank of America boosted their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Wells Fargo & Company dropped their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Company Profile

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.