Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,053 shares of the company’s stock after acquiring an additional 675 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Elevance Health were worth $3,750,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Elevance Health in the second quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new position in Elevance Health in the 4th quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health in the first quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the second quarter worth $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health in the second quarter valued at $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $533.73 on Tuesday. 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, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The firm has a 50-day simple moving average of $536.25 and a 200-day simple moving average of $529.70. The company has a market capitalization of $124.05 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders 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 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ELV shares. JPMorgan Chase & Co. increased their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Truist Financial increased their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Stephens restated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered their target price 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Buy” and an average price target of $604.29.

Insider Activity

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 over the last quarter. 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.