554 Shares in Elevance Health, Inc. $ELV Acquired by eCIO Inc.

eCIO Inc. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 554 shares of the company’s stock, valued at approximately $241,000.

A number of other large investors have also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC acquired a new position in Elevance Health in the 1st quarter worth approximately $29,000. Riverview Trust Co boosted its stake in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares during the period. North Capital Inc. acquired a new position in Elevance Health in the 1st quarter worth approximately $36,000. Finally, Orion Capital Management LLC acquired a new position in Elevance Health in the 4th quarter worth approximately $39,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 2.5%

ELV stock opened at $314.34 on Friday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $559.95. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $70.78 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.12 and a beta of 0.59. The company has a 50 day moving average of $307.25 and a two-hundred day moving average of $371.33.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the company earned $10.12 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s payout ratio is presently 29.11%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Truist Financial decreased their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Morgan Stanley decreased their price objective on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, Barclays increased their target price on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $411.06.

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.