AMI Investment Management Inc. Grows Position in Elevance Health, Inc. $ELV

AMI Investment Management Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,558 shares of the company’s stock after purchasing an additional 272 shares during the quarter. AMI Investment Management Inc.’s holdings in Elevance Health were worth $2,162,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC grew its stake in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after buying an additional 38 shares during the period. WPG Advisers LLC purchased a new stake in Elevance Health during the first quarter worth approximately $29,000. North Capital Inc. purchased a new stake in Elevance Health during the first quarter worth approximately $36,000. Saudi Central Bank purchased a new stake in Elevance Health during the first quarter worth approximately $40,000. Finally, Berbice Capital Management LLC purchased a new stake in Elevance Health during the first quarter worth approximately $43,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ELV shares. Guggenheim boosted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. 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. UBS Group reduced their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Finally, Robert W. Baird reduced their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $418.56.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux purchased 8,500 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 1.4%

ELV opened at $362.47 on Thursday. The stock has a market capitalization of $81.62 billion, a PE ratio of 15.42, a P/E/G ratio of 1.31 and a beta of 0.59. The firm’s fifty day moving average price is $312.01 and its 200 day moving average price is $360.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $510.24.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $10.12 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio is currently 29.11%.

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.