Callan Family Office LLC Acquires 2,490 Shares of Elevance Health, Inc. $ELV

Callan Family Office LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 123.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,505 shares of the company’s stock after purchasing an additional 2,490 shares during the period. Callan Family Office LLC’s holdings in Elevance Health were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Nuveen LLC bought a new position in Elevance Health in the 1st quarter worth approximately $789,943,000. Orbis Allan Gray Ltd boosted its holdings in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the period. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares during the period. Boston Partners boosted its holdings in Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Elevance Health by 13.8% in the 1st 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 buying an additional 324,040 shares during the period. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ELV. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group lowered their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Truist Financial lowered 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 note on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $412.00.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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 acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares in the company, valued at $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. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $353.29 on Friday. The firm’s fifty day moving average price is $315.10 and its 200-day moving average price is $358.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $79.55 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24.

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 the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

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.