MidFirst Bank Invests $2.95 Million in Elevance Health, Inc. $ELV

MidFirst Bank purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,964 shares of the company’s stock, valued at approximately $2,947,000.

Several other large investors have also made changes to their positions in ELV. Rossby Financial LCC raised its position in Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the 4th quarter worth $32,000. ORG Partners LLC increased its stake in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Elevance Health during the 4th quarter valued at $38,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ELV shares. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Sanford C. Bernstein raised their target price on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays raised their target price on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.11.

Elevance Health Stock Performance

NYSE:ELV opened at $388.77 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $426.98. The firm’s fifty day simple moving average is $373.89 and its 200 day simple moving average is $346.61. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $84.43 billion, a PE ratio of 16.54, a PEG ratio of 2.21 and a beta of 0.67.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the previous year, the business earned $11.97 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s payout ratio is currently 29.26%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

About Elevance Health

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.