Carnegie Investment Counsel Sells 231 Shares of Elevance Health, Inc. (NYSE:ELV)

Carnegie Investment Counsel trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,116 shares of the company’s stock after selling 231 shares during the quarter. Carnegie Investment Counsel’s holdings in Elevance Health were worth $605,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Elevance Health in the fourth quarter worth approximately $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Elevance Health in the 4th quarter worth $467,141,000. Canoe Financial LP grew its stake in Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC purchased a new position in Elevance Health during the 4th quarter worth $239,244,000. Finally, Focused Investors Fund L P bought a new stake in Elevance Health during the 1st quarter valued at $249,884,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’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 transaction, 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 SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock valued at $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELV shares. JPMorgan Chase & Co. lifted their price objective on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Robert W. Baird initiated coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, TD Cowen cut their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. One 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 company’s stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $0.40 during midday trading on Wednesday, reaching $543.44. 54,654 shares of the company’s stock traded hands, compared to its average volume of 1,033,701. The company has a fifty day simple moving average of $530.05 and a two-hundred day simple moving average of $522.65. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $555.35. The company has a market cap of $126.31 billion, a P/E ratio of 20.52, a PEG ratio of 1.18 and a beta of 0.84. 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 (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $9.04 earnings per share. Equities 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 will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) 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.