MidFirst Bank Takes Position in Elevance Health, Inc. $ELV

MidFirst Bank acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel reports. The fund acquired 16,659 shares of the company’s stock, valued at approximately $6,442,000.

Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after acquiring an additional 11,745 shares during the last quarter. Glenview Trust co grew its holdings in shares of Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP raised its position in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Truist Financial lifted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Bank of America lifted their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Stock Down 2.4%

Shares of NYSE:ELV opened at $390.69 on Tuesday. The stock’s 50-day moving average is $395.48 and its 200 day moving average is $358.49. The company has a market cap of $84.73 billion, a PE ratio of 17.36, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. 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 for the quarter, topping the consensus estimate 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 return on equity of 14.64% and a net margin of 2.47%.The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $8.84 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is presently 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.