Meeder Advisory Services Inc. Buys New Shares in Elevance Health, Inc. $ELV

Meeder Advisory Services Inc. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel.com reports. The firm bought 4,593 shares of the company’s stock, valued at approximately $1,776,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Sei Investments Co. grew its holdings in Elevance Health by 7.7% in the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares during the period. Glenview Trust co raised its stake in Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after purchasing an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after purchasing an additional 23,180 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. TD Cowen lifted their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Leerink Partners upped their price target on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’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 completion of the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

Elevance Health stock opened at $399.35 on Wednesday. The firm has a fifty day moving average of $394.99 and a 200-day moving average of $358.90. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $86.61 billion, a P/E ratio of 17.75, a PEG ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted 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 net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the business posted $8.84 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. 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 currently 30.58%.

Elevance Health 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.