Johnson Financial Group Inc. Takes $5.05 Million Position in Elevance Health, Inc. $ELV

Johnson Financial Group Inc. bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,053 shares of the company’s stock, valued at approximately $5,048,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. WealthCollab LLC lifted its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares in the last quarter. Signet Financial Management LLC lifted its position in shares of Elevance Health by 3.5% in the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after purchasing an additional 28 shares in the last quarter. Sapient Capital LLC boosted its holdings in shares of Elevance Health by 1.2% during the first quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock worth $765,000 after purchasing an additional 31 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Elevance Health by 1.4% during the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after purchasing an additional 32 shares during the period. Finally, Waddell & Associates LLC grew its position in Elevance Health by 2.6% during the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock valued at $435,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $398.53 on Thursday. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The stock’s 50-day moving average is $394.87 and its two-hundred day moving average is $359.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market cap of $86.43 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.84 earnings per share. On average, analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Guggenheim increased their target price on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Mizuho boosted their price target on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Royal Bank Of Canada dropped their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Cantor Fitzgerald lifted their price objective on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Barclays lowered their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Elevance Health Company 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.