Simplicity Wealth LLC Invests $740,000 in Elevance Health, Inc. $ELV

Simplicity Wealth LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,914 shares of the company’s stock, valued at approximately $740,000.

A number of other institutional investors also recently bought and sold shares of ELV. Baxter Bros Inc. bought a new stake in Elevance Health during the second quarter valued at about $239,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Elevance Health in the second quarter worth about $96,575,000. HBK Sorce Advisory LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at about $308,000. Barden Capital Management Inc. purchased a new position in shares of Elevance Health during the 2nd quarter valued at about $622,000. Finally, Flputnam Investment Management Co. bought a new position in shares of Elevance Health during the 2nd quarter valued at approximately $261,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ELV shares. Truist Financial lifted their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Trading Down 2.4%

Elevance Health stock opened at $390.69 on Tuesday. The stock has a market cap of $84.73 billion, a P/E ratio of 17.36, a PEG 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. The firm’s 50 day moving average price is $395.48 and its 200-day moving average price is $358.49.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.84 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is 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.