TFB Advisors LLC Makes New $237,000 Investment in Elevance Health, Inc. (NYSE:ELV)

TFB Advisors LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 437 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds have also bought and sold shares of ELV. Bank & Trust Co purchased a new position in shares of Elevance Health during the 2nd quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the 1st quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $28,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Elevance Health during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last three months. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.9 %

Shares of NYSE:ELV opened at $556.89 on Friday. The business has a 50-day moving average price of $532.05 and a 200 day moving average price of $524.68. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $129.43 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $557.60.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELV. Truist Financial increased their target price on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America restated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. TD Cowen decreased their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Finally, Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $604.29.

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.