Liberty One Investment Management LLC Acquires 1,405 Shares of Elevance Health, Inc. $ELV

Liberty One Investment Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,199 shares of the company’s stock after acquiring an additional 1,405 shares during the quarter. Liberty One Investment Management LLC’s holdings in Elevance Health were worth $4,588,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC boosted its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Elevance Health in the 2nd quarter worth approximately $32,000. Motco increased its position in shares of Elevance Health by 334.8% during the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ELV shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $431.00 price objective on shares of Elevance Health in a research report on Tuesday, January 6th. Guggenheim raised their price target on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Wells Fargo & Company increased their target price on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $400.85.

Elevance Health Trading Up 0.6%

ELV opened at $375.08 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $339.44 and its two-hundred day moving average is $327.99. The company has a market capitalization of $83.36 billion, a P/E ratio of 15.33, a PEG ratio of 1.92 and a beta of 0.51. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the prior year, the business earned $8.37 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

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.