FineMark National Bank & Trust Has $18.41 Million Stock Position in Elevance Health, Inc. $ELV

FineMark National Bank & Trust increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 45.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,331 shares of the company’s stock after buying an additional 14,697 shares during the period. FineMark National Bank & Trust’s holdings in Elevance Health were worth $18,410,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ELV. Copperleaf Capital LLC boosted its holdings in Elevance Health by 2.3% during the second quarter. Copperleaf Capital LLC now owns 3,962 shares of the company’s stock valued at $1,541,000 after acquiring an additional 90 shares during the period. Aspen Investment Management Inc lifted its position in shares of Elevance Health by 9.1% during the 2nd quarter. Aspen Investment Management Inc now owns 1,143 shares of the company’s stock worth $445,000 after purchasing an additional 95 shares during the last quarter. Traub Capital Management LLC bought a new stake in Elevance Health during the 2nd quarter valued at approximately $171,000. Wealthspire Advisors LLC grew its holdings in Elevance Health by 118.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,313 shares of the company’s stock valued at $511,000 after buying an additional 712 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its position in Elevance Health by 37.9% in the 2nd quarter. Perennial Investment Advisors LLC now owns 644 shares of the company’s stock worth $251,000 after buying an additional 177 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $324.64 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50-day moving average of $330.37 and a 200-day moving average of $339.63. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a market capitalization of $72.15 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.37 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELV. Robert W. Baird reduced their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Guggenheim increased their price target on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a report on Monday. Morgan Stanley upped their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $397.33.

About Elevance Health

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.