Elevance Health, Inc. (NYSE:ELV) Position Increased by Rockland Trust Co.

Rockland Trust Co. raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 602 shares of the company’s stock after buying an additional 95 shares during the period. Rockland Trust Co.’s holdings in Elevance Health were worth $313,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Park Avenue Securities LLC lifted its position in Elevance Health by 1.8% in the 3rd quarter. Park Avenue Securities LLC now owns 9,302 shares of the company’s stock worth $4,837,000 after buying an additional 164 shares in the last quarter. Czech National Bank grew its stake in shares of Elevance Health by 6.7% in the third quarter. Czech National Bank now owns 47,237 shares of the company’s stock worth $24,563,000 after acquiring an additional 2,947 shares during the last quarter. Lowe Wealth Advisors LLC bought a new position in Elevance Health during the third quarter valued at about $50,000. Abacus Planning Group Inc. raised its stake in shares of Elevance Health by 6.0% in the 3rd quarter. Abacus Planning Group Inc. now owns 842 shares of the company’s stock valued at $438,000 after buying an additional 48 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Elevance Health by 66.9% in the 2nd quarter. Centaurus Financial Inc. now owns 918 shares of the company’s stock valued at $498,000 after buying an additional 368 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $6.18 on Friday, reaching $492.07. 1,473,893 shares of the company’s stock were exchanged, compared to its average volume of 1,018,150. The company has a fifty day moving average of $535.87 and a 200-day moving average of $529.70. Elevance Health, Inc. has a twelve month low of $435.31 and a twelve month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $114.37 billion, a price-to-earnings ratio of 18.60, 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 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period last year, the firm earned $9.04 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction 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 sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock valued at $17,588,116 in the last quarter. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ELV shares. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Tuesday. Wells Fargo & Company decreased 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. Finally, Truist Financial lifted their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $604.29.

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.