Blair William & Co. IL Increases Holdings in Elevance Health, Inc. $ELV

Blair William & Co. IL raised its position in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,260 shares of the company’s stock after buying an additional 180 shares during the period. Blair William & Co. IL’s holdings in Elevance Health were worth $2,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC boosted its position in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new position in Elevance Health in the 1st quarter valued at about $29,000. North Capital Inc. purchased a new position in Elevance Health in the 1st quarter valued at about $36,000. Saudi Central Bank purchased a new position in Elevance Health in the 1st quarter valued at about $40,000. Finally, Berbice Capital Management LLC purchased a new position in Elevance Health in the 1st quarter valued at about $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research note on Tuesday. They issued a “neutral” rating and a $343.00 target price on the stock. Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. UBS Group dropped their price objective 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. Wells Fargo & Company increased their price objective on shares of Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $408.33.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health 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 completion of the acquisition, the chief executive officer owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired 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 directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.4%

Elevance Health stock opened at $350.04 on Wednesday. The firm has a 50 day simple moving average of $318.10 and a 200-day simple moving average of $357.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $78.82 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $497.34.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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). The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $10.12 earnings per share. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

Elevance Health Company 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.