Graypoint LLC Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

Graypoint LLC raised its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 41.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,228 shares of the company’s stock after purchasing an additional 658 shares during the quarter. Graypoint LLC’s holdings in Elevance Health were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Milestone Asset Management LLC lifted its stake in Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after purchasing an additional 24 shares in the last quarter. Elser Financial Planning Inc grew its holdings in shares of Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after acquiring an additional 26 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares during the last quarter. Prudent Man Advisors LLC grew its position in Elevance Health by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after purchasing an additional 28 shares during the period. Finally, Barlow Wealth Partners Inc. grew its position in shares of Elevance Health by 1.3% during the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company’s stock valued at $961,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 12.5%

Shares of ELV stock opened at $301.33 on Friday. Elevance Health, Inc. has a 1 year low of $296.39 and a 1 year high of $567.26. The company has a market cap of $68.08 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The stock’s 50 day simple moving average is $374.07 and its two-hundred day simple moving average is $396.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the company earned $10.12 EPS. The business’s revenue was up 14.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ELV shares. Royal Bank Of Canada restated an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $478.00 to $400.00 and set an “overweight” rating on the stock in a research report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Mizuho increased their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $481.87.

View Our Latest Research Report on Elevance Health

Elevance Health Company Profile

(Free Report)

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

See Also

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