Elevance Health, Inc. $ELV Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,520 shares of the company’s stock after selling 579 shares during the period. Great Lakes Advisors LLC’s holdings in Elevance Health were worth $7,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ELV. Milestone Asset Management LLC lifted its stake in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after acquiring an additional 24 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in Elevance Health by 0.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc lifted its stake in Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Hemington Wealth Management lifted its stake in Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $315.45 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $71.03 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.13 and a beta of 0.59. The business’s 50-day moving average is $308.80 and its two-hundred day moving average is $372.27. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $559.95.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.12 EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

Insider Activity

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELV. Wells Fargo & Company decreased their target price on Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. Barclays increased their target price on Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. decreased their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Argus reissued a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Guggenheim reduced their price target on Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

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.