TD Waterhouse Canada Inc. Sells 13,150 Shares of Elevance Health, Inc. $ELV

TD Waterhouse Canada Inc. cut its position in Elevance Health, Inc. (NYSE:ELV) by 36.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,598 shares of the company’s stock after selling 13,150 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Elevance Health were worth $9,403,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ELV. Field & Main Bank increased its stake in Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after acquiring an additional 25 shares during the last quarter. Tranquilli Financial Advisor LLC lifted its stake in Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after purchasing an additional 26 shares during the last quarter. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Signet Financial Management LLC boosted its holdings in shares of Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after purchasing an additional 28 shares in the last quarter. Finally, Sapient Capital LLC increased its stake in shares of Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health Trading Down 1.9%

Shares of NYSE ELV opened at $407.05 on Friday. The stock has a market cap of $88.28 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. 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, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The firm has a 50 day moving average price of $396.72 and a two-hundred day moving average price of $364.57.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.84 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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 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 is presently 30.58%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Morgan Stanley lifted their target price on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Bank of America boosted their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Mizuho increased their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Truist Financial raised their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

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.