Jackson Wealth Management LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Jackson Wealth Management LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,879 shares of the company’s stock after purchasing an additional 136 shares during the period. Jackson Wealth Management LLC’s holdings in Elevance Health were worth $2,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Palisade Asset Management LLC bought a new stake in Elevance Health during the 1st quarter valued at about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $32,000. Alaska Permanent Fund Corp purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $31,000. Finally, Beaird Harris Wealth Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $32,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. UBS Group raised their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Barclays dropped their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $604.29.

Elevance Health Stock Up 0.6 %

Elevance Health stock traded up $2.94 during midday trading on Friday, hitting $535.17. 874,644 shares of the company’s stock were exchanged, compared to its average volume of 1,331,405. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The firm has a 50-day moving average of $529.51 and a two-hundred day moving average of $518.01. The company has a market cap of $124.10 billion, a PE ratio of 20.23, a P/E/G ratio of 1.18 and a beta of 0.84.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.