Community Bank & Trust Waco Texas Sells 87 Shares of Elevance Health, Inc. $ELV

Community Bank & Trust Waco Texas lowered its position in Elevance Health, Inc. (NYSE:ELV) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,005 shares of the company’s stock after selling 87 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Elevance Health were worth $5,058,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ELV. Nuveen LLC bought a new position in shares of Elevance Health in the first quarter worth $789,943,000. Orbis Allan Gray Ltd increased its holdings in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares during the period. Vanguard Group Inc. increased its holdings in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Boston Partners increased its holdings in shares of Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after purchasing an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELV. Barclays upped their price target on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. UBS Group cut their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Morgan Stanley cut their target price on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Finally, Truist Financial cut their target price on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Elevance Health Stock Performance

NYSE ELV opened at $322.89 on Wednesday. The company has a 50-day simple moving average of $304.83 and a two-hundred day simple moving average of $363.10. The company has a quick ratio of 1.44, a current 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 firm has a market cap of $72.71 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.17 and a beta of 0.59.

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 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 analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the company earned $10.12 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s dividend payout ratio is presently 29.11%.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the business’s stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health 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.