Sequoia Financial Advisors LLC Buys 9,807 Shares of Elevance Health, Inc. $ELV

Sequoia Financial Advisors LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 148.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 16,432 shares of the company’s stock after acquiring an additional 9,807 shares during the period. Sequoia Financial Advisors LLC’s holdings in Elevance Health were worth $6,355,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new position in Elevance Health in the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new position in Elevance Health in the 4th quarter worth $32,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health in the first quarter worth about $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. Royal Bank Of Canada decreased their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. JPMorgan Chase & Co. upped their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Barclays lowered their price target on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Morgan Stanley raised their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald raised their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Fifteen investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

Shares of ELV opened at $418.42 on Friday. The company has a 50 day moving average price of $397.07 and a 200-day moving average price of $366.77. 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 has a market capitalization of $90.74 billion, a PE ratio of 18.60, a PEG ratio of 2.17 and a beta of 0.69. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the business posted $8.84 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.