Dakota Wealth Management Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Dakota Wealth Management acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 591 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after purchasing an additional 326,543 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health during the first quarter valued at about $299,000. GAMMA Investing LLC boosted its holdings in Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company’s stock worth $1,341,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Elevance Health by 36.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock valued at $11,991,000 after acquiring an additional 7,410 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ELV shares. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. UBS Group reiterated a “buy” rating and issued a $484.00 price target (down from $555.00) on shares of Elevance Health in a research note on Monday. Barclays reduced their price objective on shares of Elevance Health from $480.00 to $434.00 and set an “overweight” rating for the company in a research note on Wednesday, July 9th. Finally, Truist Financial dropped their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $481.87.

Elevance Health Price Performance

Shares of NYSE ELV opened at $301.33 on Friday. The firm has a market cap of $68.08 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The business has a 50 day moving average price of $374.07 and a two-hundred day moving average price of $396.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a fifty-two week low of $296.39 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.27%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer owned 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.