Alpha Omega Wealth Management LLC Has $342,000 Stock Position in Elevance Health, Inc. $ELV

Alpha Omega Wealth Management LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880 shares of the company’s stock after selling 53 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Elevance Health were worth $342,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC raised its position in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Elevance Health during the first quarter worth $29,000. Riverview Trust Co increased its holdings in shares of Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after buying an additional 67 shares in the last quarter. North Capital Inc. acquired a new position in shares of Elevance Health during the first quarter worth $36,000. Finally, Saudi Central Bank acquired a new position in shares of Elevance Health during the first quarter worth $40,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ELV shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Guggenheim lowered their price target on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a report on Friday, July 18th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. UBS Group lowered their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

Elevance Health Stock Performance

Shares of ELV opened at $318.47 on Tuesday. The stock has a market capitalization of $71.71 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. The firm’s fifty day simple moving average is $302.61 and its two-hundred day simple moving average is $366.74. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $542.22.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s dividend payout ratio is 29.11%.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were bought 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 ownership of the stock. The disclosure for this purchase can be found here. 0.29% 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.