Archford Capital Strategies LLC Cuts Stock Position in Elevance Health, Inc. $ELV

Archford Capital Strategies LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 22.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,109 shares of the company’s stock after selling 312 shares during the period. Archford Capital Strategies LLC’s holdings in Elevance Health were worth $431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new position in shares of Elevance Health in the 1st quarter worth approximately $299,000. Focus Partners Wealth grew its position in shares of Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after buying an additional 1,588 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Elevance Health in the 1st quarter worth approximately $522,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $319.52 on Tuesday. 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 $524.68. The company has a 50 day simple moving average of $304.00 and a two-hundred day simple moving average of $363.38. The stock has a market cap of $71.95 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.17 and a beta of 0.59.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s payout ratio is currently 29.11%.

Insider Buying and Selling at Elevance Health

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ELV shares. Argus reaffirmed a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Leerink Partners reissued a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Morgan Stanley dropped their target price on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Barclays boosted their target price on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Truist Financial dropped their target price on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.