Elevance Health, Inc. (NYSE:ELV) Shares Bought by Asset Dedication LLC

Asset Dedication LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,905 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Asset Dedication LLC’s holdings in Elevance Health were worth $1,574,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Bank & Trust Co purchased a new stake in Elevance Health during the second quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the 4th quarter worth about $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health during the 2nd quarter valued at about $28,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ELV shares. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens reissued an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Bank of America reissued a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $604.29.

Insider Buying and Selling

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 owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s 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 sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.5 %

Shares of NYSE:ELV opened at $541.91 on Friday. The company has a 50 day moving average of $533.79 and a two-hundred day moving average of $526.61. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $125.95 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $9.04 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business 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 dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. Elevance Health’s payout ratio is 24.64%.

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.