Journey Strategic Wealth LLC Acquires 351 Shares of Elevance Health, Inc. $ELV

Journey Strategic Wealth LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,289 shares of the company’s stock after purchasing an additional 351 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Elevance Health were worth $890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its holdings in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after purchasing an additional 3,988 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. Focus Partners Wealth increased its holdings in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after purchasing an additional 982 shares during the period. Finally, OLD National Bancorp IN grew its position in shares of Elevance Health by 44.8% in the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after buying an additional 1,939 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE ELV opened at $321.73 on Friday. The firm has a market capitalization of $71.50 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.23 and a beta of 0.60. The firm’s 50-day moving average price is $330.76 and its 200-day moving average price is $338.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.37 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ELV shares. Morgan Stanley raised their price objective on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Mizuho lowered their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Robert W. Baird reduced their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Finally, Barclays cut their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Hold” and a consensus price target of $397.33.

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.