Arista Wealth Management LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Arista Wealth Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 858 shares of the company’s stock, valued at approximately $465,000.

Several other institutional investors have also added to or reduced their stakes in ELV. Sei Investments Co. increased its holdings in Elevance Health by 10.2% in the 2nd quarter. Sei Investments Co. now owns 123,872 shares of the company’s stock worth $67,117,000 after buying an additional 11,513 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Elevance Health by 13.9% in the second quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock worth $2,820,000 after acquiring an additional 637 shares during the period. Callan Capital LLC increased its position in Elevance Health by 83.4% during the second quarter. Callan Capital LLC now owns 860 shares of the company’s stock valued at $466,000 after acquiring an additional 391 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Elevance Health by 1.4% in the second quarter. Benjamin Edwards Inc. now owns 2,956 shares of the company’s stock worth $1,602,000 after purchasing an additional 41 shares during the last quarter. Finally, Trust Investment Advisors grew its stake in shares of Elevance Health by 12.6% during the 2nd quarter. Trust Investment Advisors now owns 509 shares of the company’s stock valued at $276,000 after purchasing an additional 57 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.3 %

NYSE ELV opened at $539.79 on Friday. The stock has a 50 day moving average price of $536.19 and a 200-day moving average price of $529.08. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a market capitalization of $125.46 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the prior year, the company earned $9.04 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 37.25 EPS 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 given a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is presently 24.64%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’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 owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The stock was 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 owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last three months. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on ELV shares. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Truist Financial raised their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research note on Thursday, September 5th. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.