23,834 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 23,834 shares of the company’s stock, valued at approximately $12,805,000.

A number of other large investors have also bought and sold shares of ELV. Bank & Trust Co purchased a new position in shares of Elevance Health during the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health during the fourth quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health in the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the second quarter valued at approximately $28,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health during the 2nd quarter valued at approximately $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELV. Wells Fargo & Company reduced 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. Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. Barclays cut their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. TD Cowen decreased their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, Truist Financial increased their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Trading Down 1.4 %

NYSE ELV opened at $498.16 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $536.58 and its two-hundred day simple moving average is $529.83. Elevance Health, Inc. has a twelve month low of $432.99 and a twelve month high of $567.26. The company has a market capitalization of $115.78 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its earnings results 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 the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.04 EPS. Research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.31%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’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 completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on 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 sale, the director now directly 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 at this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly 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. In the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

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.