Elevance Health, Inc. (NYSE:ELV) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 9.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,902 shares of the company’s stock after selling 209 shares during the period. Financial Counselors Inc.’s holdings in Elevance Health were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Elevance Health in the 2nd quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health during the second quarter worth about $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter valued at about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in Elevance Health in the 4th quarter valued at approximately $28,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health during the 1st quarter worth approximately $32,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $562.29 on Wednesday. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The stock has a market cap of $130.69 billion, a P/E ratio of 21.25, a PEG ratio of 1.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50-day moving average of $533.34 and a two-hundred day moving average of $526.00.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the prior year, the business posted $9.04 earnings per share. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research note on Monday, August 19th. Stephens reaffirmed an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Tuesday, June 11th. TD Cowen reduced their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Robert W. Baird assumed coverage on shares of Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $604.29.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

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.