TD Private Client Wealth LLC Sells 487 Shares of Elevance Health, Inc. $ELV

TD Private Client Wealth LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,548 shares of the company’s stock after selling 487 shares during the quarter. TD Private Client Wealth LLC’s holdings in Elevance Health were worth $1,380,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Centaurus Financial Inc. increased its holdings in shares of Elevance Health by 52.3% during the fourth quarter. Centaurus Financial Inc. now owns 2,249 shares of the company’s stock worth $830,000 after buying an additional 772 shares in the last quarter. Fire Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter valued at $231,000. MassMutual Private Wealth & Trust FSB raised its position in Elevance Health by 67.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,162 shares of the company’s stock valued at $505,000 after purchasing an additional 468 shares during the last quarter. Marcum Wealth LLC acquired a new position in Elevance Health in the first quarter worth $214,000. Finally, Park National Corp OH bought a new stake in shares of Elevance Health during the first quarter worth $295,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

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

Elevance Health Trading Down 2.9%

NYSE:ELV opened at $316.96 on Friday. 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 1-year low of $273.71 and a 1-year high of $528.52. The firm has a market capitalization of $71.37 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.20 and a beta of 0.59. The business’s 50-day moving average price is $302.31 and its two-hundred day moving average price is $365.52.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 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 the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $10.12 earnings per share. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELV. Truist Financial cut their price target on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Leerink Partners reaffirmed a “market perform” rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Finally, UBS Group decreased their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

Elevance Health Company Profile

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.