Meeder Asset Management Inc. Boosts Position in Elevance Health, Inc. $ELV

Meeder Asset Management Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 31,029.4% during the third quarter, HoldingsChannel reports. The firm owned 15,876 shares of the company’s stock after buying an additional 15,825 shares during the period. Meeder Asset Management Inc.’s holdings in Elevance Health were worth $5,130,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC increased its stake in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health during the second quarter valued at approximately $32,000. Motco raised its holdings in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after purchasing an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc boosted its position in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE:ELV opened at $372.80 on Monday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The firm has a market capitalization of $82.85 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.92 and a beta of 0.51. The stock’s 50 day moving average price is $338.20 and its two-hundred day moving average price is $327.98. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $1.71 dividend. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Barclays lifted their target price on shares of Elevance Health from $385.00 to $404.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley cut their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. JPMorgan Chase & Co. increased their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $400.85.

About Elevance Health

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.