Greenleaf Trust Trims Holdings in Elevance Health, Inc. $ELV

Greenleaf Trust trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 13.2% during the second quarter, Holdings Channel.com reports. The fund owned 5,960 shares of the company’s stock after selling 906 shares during the period. Greenleaf Trust’s holdings in Elevance Health were worth $2,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of Elevance Health by 76.1% during the first quarter. Versant Capital Management Inc now owns 125 shares of the company’s stock worth $54,000 after purchasing an additional 54 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Elevance Health during the first quarter worth about $90,000. Milestone Asset Management LLC lifted its position in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after purchasing an additional 24 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Elevance Health by 87.0% during the first quarter. Merit Financial Group LLC now owns 6,393 shares of the company’s stock worth $2,781,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Elevance Health by 42.6% during the first quarter. Fulton Bank N.A. now owns 1,540 shares of the company’s stock worth $670,000 after purchasing an additional 460 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ELV shares. Leerink Partners reaffirmed a “market perform” rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Barclays raised their target price on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Robert W. Baird reduced their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Guggenheim reduced their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Elevance Health Stock Performance

Shares of ELV opened at $322.89 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market cap of $72.71 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. The company’s 50 day simple moving average is $304.83 and its 200-day simple moving average is $363.10. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $524.68.

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

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade 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.

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.