Quarry LP Buys Shares of 134 Elevance Health, Inc. (NYSE:ELV)

Quarry LP purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 134 shares of the company’s stock, valued at approximately $73,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc grew its position in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after purchasing an additional 20 shares during the last quarter. American Trust lifted its position in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after purchasing an additional 20 shares during the period. Finally, Sage Rhino Capital LLC boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Stephens restated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. Truist Financial raised their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, 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 report on Monday, July 22nd. One 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 stock 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 debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a one year low of $432.99 and a one year high of $567.26. The company has a market cap of $115.78 billion, a PE ratio of 18.83, a PEG ratio of 1.17 and a beta of 0.82. The firm has a 50-day moving average of $536.58 and a 200-day moving average of $529.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same period in the previous year, the company posted $9.04 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts expect 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. Shareholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is 24.64%.

Insider Transactions at Elevance Health

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

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.