First Horizon Advisors Inc. Has $435,000 Stake in Elevance Health, Inc. (NYSE:ELV)

First Horizon Advisors Inc. cut its stake in Elevance Health, Inc. (NYSE:ELV) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 802 shares of the company’s stock after selling 71 shares during the period. First Horizon Advisors Inc.’s holdings in Elevance Health were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Richwood Investment Advisors LLC increased its position in Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after buying an additional 20 shares during the period. Bell Investment Advisors Inc raised its stake in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Elevance Health by 8.8% in 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. grew its position in shares of 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 in the last quarter. Finally, American Trust increased its stake in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 approximately $4,647,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were 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 owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by insiders.

Elevance Health Trading Up 0.1 %

NYSE:ELV traded up $0.63 during trading hours on Tuesday, hitting $544.02. 63,959 shares of the company were exchanged, compared to its average volume of 1,037,049. The stock has a market capitalization of $126.44 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $555.35. The company has a fifty day simple moving average of $529.93 and a 200 day simple moving average of $522.31. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

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

Elevance Health Dividend Announcement

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 given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ELV shares. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. TD Cowen lowered their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a report on Monday. Morgan Stanley initiated coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Finally, Truist Financial upped their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Buy” and an average target price of $604.29.

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.