Trillium Asset Management LLC Acquires New Position in Elevance Health, Inc. $ELV

Trillium Asset Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,852 shares of the company’s stock, valued at approximately $8,064,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $32,000. WealthCollab LLC grew its holdings in shares of 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 during the period. Elevation Wealth Partners LLC grew its holdings in shares of Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the period. Finally, Tacita Capital Inc purchased a new position in Elevance Health in the 2nd quarter valued at approximately $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Mizuho lifted their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Bank of America boosted their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated 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 in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $397.15 on Friday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50 day moving average price is $394.82 and its 200 day moving average price is $359.63. The firm has a market cap of $86.13 billion, a P/E ratio of 17.65, a PEG ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion for 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%.Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.84 EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 30.58%.

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.