State of Wyoming Takes $1.76 Million Position in Elevance Health, Inc. $ELV

State of Wyoming purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,564 shares of the company’s stock, valued at approximately $1,765,000.

A number of other large investors have also added to or reduced their stakes in the stock. WealthCollab LLC raised its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Signet Financial Management LLC grew its holdings in shares of Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after purchasing an additional 28 shares in the last quarter. Sapient Capital LLC grew its holdings in shares of Elevance Health by 1.2% during the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock worth $765,000 after purchasing an additional 31 shares in the last quarter. Mutual Advisors LLC increased its position in shares of Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after purchasing an additional 32 shares during the period. Finally, Waddell & Associates LLC increased its position in shares of Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.6%

ELV opened at $400.63 on Friday. The company has a market cap of $86.88 billion, a P/E ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.68. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $396.05 and its 200-day moving average is $358.15. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $8.84 EPS. Equities research analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is 30.58%.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Robert W. Baird raised their target price on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Barclays cut 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. Finally, TD Cowen lifted their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

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.