Edmp Inc. Sells 161 Shares of Elevance Health, Inc. $ELV

Edmp Inc. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,785 shares of the company’s stock after selling 161 shares during the quarter. Elevance Health accounts for approximately 2.2% of Edmp Inc.’s investment portfolio, making the stock its 14th biggest holding. Edmp Inc.’s holdings in Elevance Health were worth $2,639,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ELV. GAMMA Investing LLC lifted its position in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Elevance Health by 36.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock worth $11,991,000 after buying an additional 7,410 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company’s stock worth $1,341,000 after buying an additional 2,004 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Elevance Health by 275.3% during the first quarter. Exchange Traded Concepts LLC now owns 8,793 shares of the company’s stock worth $3,825,000 after buying an additional 6,450 shares during the last quarter. Finally, Optas LLC acquired a new position in Elevance Health during the first quarter worth $268,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Barclays upped their price objective on shares of Elevance Health from $373.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird decreased their price objective 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. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $408.17.

Elevance Health Trading Down 0.5%

ELV stock opened at $351.43 on Tuesday. 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 company’s 50-day simple moving average is $316.63 and its 200 day simple moving average is $357.61. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. The company has a market capitalization of $79.14 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter last year, the company posted $10.12 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share 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 dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio is currently 29.11%.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. 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.