Elevance Health, Inc. $ELV Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,362 shares of the company’s stock after purchasing an additional 8,238 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Elevance Health were worth $62,404,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Wedbush Securities Inc. lifted its position in Elevance Health by 2.0% during the 2nd quarter. Wedbush Securities Inc. now owns 2,379 shares of the company’s stock worth $920,000 after acquiring an additional 47 shares during the period. Greenleaf Trust increased its holdings in shares of Elevance Health by 3.2% in the second quarter. Greenleaf Trust now owns 4,989 shares of the company’s stock valued at $1,929,000 after purchasing an additional 157 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of Elevance Health by 2.8% during the second quarter. New Mexico Educational Retirement Board now owns 10,946 shares of the company’s stock worth $4,233,000 after purchasing an additional 300 shares during the last quarter. Toth Financial Advisory Corp grew its position in Elevance Health by 23.7% in the 2nd quarter. Toth Financial Advisory Corp now owns 5,984 shares of the company’s stock valued at $2,314,000 after buying an additional 1,147 shares during the last quarter. Finally, Mufg Securities Americas Inc. grew its position in Elevance Health by 7.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 6,541 shares of the company’s stock valued at $2,530,000 after buying an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’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 transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Bank of America boosted their price target on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Royal Bank Of Canada cut their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a report on Thursday, July 16th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, UBS Group lifted 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 equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Price Performance

Elevance Health stock opened at $403.70 on Wednesday. The company has a market cap of $87.55 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The business has a fifty day moving average of $395.47 and a two-hundred day moving average of $363.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

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, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the firm posted $8.84 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 27.18 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 given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 30.58%.

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.