Elevance Health, Inc. (NYSE:ELV) Holdings Raised by Waldron Private Wealth LLC

Waldron Private Wealth LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 6.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,066 shares of the company’s stock after acquiring an additional 63 shares during the quarter. Waldron Private Wealth LLC’s holdings in Elevance Health were worth $578,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Claro Advisors LLC lifted its holdings in shares of Elevance Health by 21.6% during the second quarter. Claro Advisors LLC now owns 710 shares of the company’s stock valued at $385,000 after purchasing an additional 126 shares during the last quarter. Barlow Wealth Partners Inc. raised its position in Elevance Health by 2.9% during the second quarter. Barlow Wealth Partners Inc. now owns 26,986 shares of the company’s stock valued at $13,820,000 after buying an additional 759 shares during the period. Essex Financial Services Inc. raised its position in Elevance Health by 2.6% during the second quarter. Essex Financial Services Inc. now owns 5,291 shares of the company’s stock valued at $2,867,000 after buying an additional 136 shares during the period. Aptus Capital Advisors LLC raised its position in Elevance Health by 4.6% during the second quarter. Aptus Capital Advisors LLC now owns 2,537 shares of the company’s stock valued at $1,375,000 after buying an additional 111 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Elevance Health during the second quarter valued at $2,818,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Royal Bank of Canada increased 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. JPMorgan Chase & Co. increased their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Barclays lowered their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. Finally, Morgan Stanley started coverage on Elevance Health in a research note 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $604.29.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,058 shares of company stock worth $17,588,116. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 0.9 %

Shares of ELV stock opened at $556.89 on Monday. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $557.60. 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 business’s 50 day moving average is $532.50 and its two-hundred day moving average is $525.31. The company has a market cap of $129.14 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.17%. Elevance Health’s payout ratio is 24.64%.

About Elevance Health

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.