Advisory Alpha LLC Acquires 63 Shares of Elevance Health, Inc. (NYSE:ELV)

Advisory Alpha LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,018 shares of the company’s stock after acquiring an additional 63 shares during the quarter. Advisory Alpha LLC’s holdings in Elevance Health were worth $552,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Truist Financial Corp lifted its holdings in Elevance Health by 0.9% during the second quarter. Truist Financial Corp now owns 550,074 shares of the company’s stock worth $298,063,000 after acquiring an additional 5,026 shares during the period. EP Wealth Advisors LLC lifted its holdings in Elevance Health by 18.1% during the second quarter. EP Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $1,020,000 after acquiring an additional 289 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Elevance Health by 39.5% during the second quarter. B. Riley Wealth Advisors Inc. now owns 3,982 shares of the company’s stock worth $2,158,000 after acquiring an additional 1,127 shares during the period. Quarry LP bought a new stake in Elevance Health during the second quarter worth $73,000. Finally, NewEdge Advisors LLC lifted its holdings in Elevance Health by 21.0% during the second quarter. NewEdge Advisors LLC now owns 14,364 shares of the company’s stock worth $7,783,000 after acquiring an additional 2,492 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 in the last 90 days. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 1.7 %

NYSE ELV opened at $510.99 on Wednesday. The firm has a market cap of $118.76 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The stock has a 50-day moving average of $537.04 and a 200-day moving average of $530.23. 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 announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.04 earnings per share. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $1.63 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.28%. Elevance Health’s payout ratio is presently 24.64%.

Analyst Ratings Changes

ELV has been the topic of several research reports. TD Cowen lowered their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Morgan Stanley initiated coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price on the stock. Royal Bank of Canada boosted their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $604.29.

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.