LPL Financial LLC Has $94.53 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

LPL Financial LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,455 shares of the company’s stock after purchasing an additional 15,424 shares during the period. LPL Financial LLC’s holdings in Elevance Health were worth $94,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Richwood Investment Advisors LLC grew its position in shares of Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after purchasing an additional 20 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after acquiring an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares in the last quarter. Finally, American Trust boosted its position in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health 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 transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was 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 in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Tuesday. Morgan Stanley initiated coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada increased their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Price Performance

Shares of NYSE ELV opened at $545.78 on Friday. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The firm has a fifty day simple moving average of $534.70 and a 200 day simple moving average of $527.40. The company has a market capitalization of $126.85 billion, a PE ratio of 20.63, a P/E/G ratio of 1.19 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

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.