Keybank National Association OH Sells 47 Shares of Elevance Health, Inc. $ELV

Keybank National Association OH lessened its position in Elevance Health, Inc. (NYSE:ELV) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,065 shares of the company’s stock after selling 47 shares during the quarter. Keybank National Association OH’s holdings in Elevance Health were worth $3,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Elevance Health by 116.4% in the second quarter. Hantz Financial Services Inc. now owns 277 shares of the company’s stock valued at $108,000 after acquiring an additional 149 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Elevance Health by 56.4% during the second quarter. Arkadios Wealth Advisors now owns 3,021 shares of the company’s stock valued at $1,175,000 after buying an additional 1,089 shares during the last quarter. World Investment Advisors grew its stake in shares of Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after buying an additional 3,988 shares during the last quarter. Evergreen Wealth Management LLC grew its stake in shares of Elevance Health by 13.4% during the second quarter. Evergreen Wealth Management LLC now owns 12,947 shares of the company’s stock valued at $5,036,000 after buying an additional 1,533 shares during the last quarter. Finally, Whalen Wealth Management Inc. grew its stake in shares of Elevance Health by 240.0% during the second quarter. Whalen Wealth Management Inc. now owns 3,618 shares of the company’s stock valued at $1,407,000 after buying an additional 2,554 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.5%

NYSE ELV opened at $317.05 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $70.46 billion, a PE ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The business’s 50-day moving average is $329.07 and its 200 day moving average is $349.16.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same period last year, the firm earned $8.37 earnings per share. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In related news, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction 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. This represents a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ELV shares. Guggenheim raised their price objective on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. Morgan Stanley raised their price objective on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Sanford C. Bernstein reduced their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Finally, UBS Group cut their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $398.44.

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.