Abacus Planning Group Inc. Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Abacus Planning Group Inc. raised its stake in Elevance Health, Inc. (NYSE:ELV) by 6.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 842 shares of the company’s stock after acquiring an additional 48 shares during the period. Abacus Planning Group Inc.’s holdings in Elevance Health were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc raised its position in 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 buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after acquiring an additional 20 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after purchasing an additional 20 shares in the last quarter. American Trust lifted its position in Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Finally, Sage Rhino Capital LLC boosted its holdings in Elevance Health by 4.6% in the 1st quarter. Sage Rhino Capital LLC now owns 474 shares of the company’s stock valued at $246,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $505.00 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The business’s fifty day moving average price is $536.89 and its two-hundred day moving average price is $530.05. The stock has a market cap of $117.37 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a one year low of $431.55 and a one year high of $567.26.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

Several analysts have recently commented on ELV shares. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. TD Cowen cut their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Barclays decreased their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Finally, Truist Financial upped their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is currently owned by insiders.

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.