1,381 Shares in Elevance Health, Inc. $ELV Purchased by Hurlow Wealth Management Group Inc.

Hurlow Wealth Management Group Inc. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,381 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Elevance Health during the 2nd quarter worth $7,344,424,000. Bank of New York Mellon Corp bought a new position in Elevance Health in the 2nd quarter valued at $1,246,349,000. Norges Bank acquired a new stake in shares of Elevance Health in the 4th quarter valued at $1,058,165,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred 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 $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $399.35 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day simple moving average of $394.99 and a 200 day simple moving average of $358.90. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The firm has a market capitalization of $86.61 billion, a PE ratio of 17.75, a P/E/G ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the company posted $8.84 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business 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 dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ELV shares. TD Cowen increased their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Cantor Fitzgerald increased their price target on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research report on Thursday, July 16th. Finally, UBS Group upped their price objective on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company 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.