Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 124,824 shares of the company’s stock after acquiring an additional 7,530 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Elevance Health were worth $67,646,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the 2nd quarter worth $28,000. Palisade Asset Management LLC acquired a new position in Elevance Health during the 1st quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health during the 4th quarter worth $28,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research report on Friday, September 20th. Royal Bank of Canada raised their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America restated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Up 0.7 %

ELV stock opened at $523.95 on Monday. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The company has a market capitalization of $121.78 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The firm’s 50-day moving average is $536.54 and its two-hundred day moving average is $530.18. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the firm earned $9.04 EPS. Elevance Health’s revenue was down .4% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by corporate insiders.

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.