Atlas Capital Advisors LLC Has $2.30 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Atlas Capital Advisors LLC reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,247 shares of the company’s stock after selling 347 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Elevance Health were worth $2,301,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELV. Richwood Investment Advisors LLC lifted its holdings 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 boosted its holdings in Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after acquiring an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Elevance Health by 8.8% during 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. lifted its position in shares of Elevance Health by 1.6% in 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 during the period. Finally, American Trust boosted its stake in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction 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 sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ELV. TD Cowen lowered their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Wells Fargo & Company dropped their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley began coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Bank of America reissued a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Tuesday, June 11th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Up 0.9 %

Shares of NYSE:ELV traded up $4.80 during mid-day trading on Friday, hitting $556.89. 1,222,934 shares of the company traded hands, compared to its average volume of 1,017,118. The stock has a 50-day moving average price of $532.05 and a two-hundred day moving average price of $524.68. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $557.60. The stock has a market cap of $129.43 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.18 and a beta of 0.84. 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 posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.04 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders 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 yield of 1.17%. 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.