Ironwood Investment Counsel LLC Has $3.45 Million Holdings in Elevance Health, Inc. $ELV

Ironwood Investment Counsel LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 20.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 11,791 shares of the company’s stock after buying an additional 2,023 shares during the period. Ironwood Investment Counsel LLC’s holdings in Elevance Health were worth $3,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new stake in Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at about $32,000. ORG Partners LLC lifted its stake in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the 4th quarter valued at about $38,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, 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 the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELV shares. Leerink Partners lifted their target price on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a report on Friday. Morgan Stanley increased their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Guggenheim raised their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $440.90.

More Elevance Health News

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $372.68 on Monday. The business has a 50-day simple moving average of $399.55 and a 200 day simple moving average of $355.39. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $80.82 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.10 and a beta of 0.67.

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, topping the consensus estimate 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 analyst estimates of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that Elevance Health, Inc. will post 27.08 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. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 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.