Ashton Thomas Private Wealth LLC Makes New $142,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Ashton Thomas Private Wealth LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 263 shares of the company’s stock, valued at approximately $142,000.

A number of other institutional investors have also bought and sold shares of ELV. Accretive Wealth Partners LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $209,000. Avantax Advisory Services Inc. increased its holdings in shares of Elevance Health by 15.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,562 shares of the company’s stock worth $2,623,000 after buying an additional 742 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in shares of Elevance Health by 5.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,204 shares of the company’s stock worth $568,000 after buying an additional 63 shares during the last quarter. Haverford Trust Co increased its holdings in shares of Elevance Health by 1.0% during the 4th quarter. Haverford Trust Co now owns 3,394 shares of the company’s stock worth $1,600,000 after buying an additional 35 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $41,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly 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 available through this link. In other 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 three months, insiders sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $550.84 on Friday. 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 $127.73 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. 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 fifty day moving average price of $535.11 and a 200 day moving average price of $527.71.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

Several research firms recently weighed in on ELV. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research note on Tuesday. Robert W. Baird started coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Buy” and an average target price of $604.29.

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.