CVA Family Office LLC Acquires 59 Shares of Elevance Health, Inc. $ELV

CVA Family Office LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 621 shares of the company’s stock after purchasing an additional 59 shares during the quarter. CVA Family Office LLC’s holdings in Elevance Health were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Private Wealth Management Group LLC increased its position in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $29,000. North Capital Inc. acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $36,000. Glass Jacobson Investment Advisors llc raised its position in 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 purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in Elevance Health during the 1st quarter worth $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ELV shares. Bank of America lifted their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Elevance Health in a report on Friday. Mizuho boosted their price objective on Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Argus reaffirmed a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $397.89.

Elevance Health Price Performance

Elevance Health stock opened at $342.45 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $76.11 billion, a P/E ratio of 14.00, a PEG ratio of 1.25 and a beta of 0.59. The business has a 50-day moving average of $327.09 and a 200-day moving average of $352.85. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $8.37 EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. Elevance Health’s payout ratio is 27.96%.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.