Meeder Asset Management Inc. Has $24.40 Million Position in Elevance Health, Inc. (NYSE:ELV)

Meeder Asset Management Inc. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,030 shares of the company’s stock after buying an additional 2,982 shares during the period. Elevance Health comprises approximately 1.7% of Meeder Asset Management Inc.’s portfolio, making the stock its 15th largest position. Meeder Asset Management Inc.’s holdings in Elevance Health were worth $24,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vest Financial LLC lifted its holdings in Elevance Health by 20.0% during the 2nd quarter. Vest Financial LLC now owns 41,800 shares of the company’s stock worth $22,650,000 after buying an additional 6,967 shares during the period. Fingerlakes Wealth Management Inc. acquired a new position in shares of Elevance Health in the second quarter worth approximately $203,000. Trueblood Wealth Management LLC boosted its holdings in Elevance Health by 1.4% in the second quarter. Trueblood Wealth Management LLC now owns 2,471 shares of the company’s stock valued at $1,339,000 after acquiring an additional 35 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in Elevance Health by 22.1% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 7,443 shares of the company’s stock valued at $4,033,000 after purchasing an additional 1,346 shares during the period. Finally, Bell Investment Advisors Inc increased its position in Elevance Health by 2.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 1,029 shares of the company’s stock valued at $557,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a document filed 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, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated 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 completion of 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. Over the last ninety days, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of ELV opened at $545.78 on Friday. The business’s fifty day moving average is $534.70 and its 200 day moving average is $527.40. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month 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 stock has a market cap of $126.85 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.19 and a beta of 0.82.

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

Elevance Health Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.19%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ELV shares. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Tuesday. Robert W. Baird began coverage on Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $604.29.

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.