Freestone Capital Holdings LLC Makes New $445,000 Investment in Elevance Health, Inc. $ELV

by · The Markets Daily

Freestone Capital Holdings LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,143 shares of the company’s stock, valued at approximately $445,000.

Other large investors have also recently made changes to their positions in the company. Hutchens & Kramer Investment Management Group LLC boosted its stake in Elevance Health by 248.4% during the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,669 shares of the company’s stock valued at $661,000 after buying an additional 1,190 shares during the last quarter. South Dakota Investment Council raised its holdings in shares of Elevance Health by 64.9% during the 2nd quarter. South Dakota Investment Council now owns 43,053 shares of the company’s stock worth $16,746,000 after acquiring an additional 16,939 shares in the last quarter. Mission Wealth Management LP boosted its position in shares of Elevance Health by 2.2% during the 2nd quarter. Mission Wealth Management LP now owns 3,281 shares of the company’s stock valued at $1,276,000 after acquiring an additional 71 shares during the last quarter. Versor Investments LP grew its holdings in shares of Elevance Health by 116.0% in the second quarter. Versor Investments LP now owns 5,397 shares of the company’s stock valued at $2,099,000 after purchasing an additional 2,898 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in Elevance Health by 6.4% in the second quarter. GHP Investment Advisors Inc. now owns 14,155 shares of the company’s stock worth $5,506,000 after purchasing an additional 853 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Elevance Health stock opened at $316.67 on Wednesday. The firm has a 50-day moving average price of $329.18 and a 200-day moving average price of $346.39. The firm has a market capitalization of $70.38 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV – Get Free Report) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $8.37 EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELV shares. Guggenheim upped their price target on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Mizuho decreased their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday. Truist Financial set a $400.00 price target on shares of Elevance Health in a research note on Tuesday, October 14th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.33.

View Our Latest Stock Report on ELV

Insider Activity

In other news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

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.

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