Ascent Group LLC Has $2.05 Million Stake in Elevance Health, Inc. $ELV

Ascent Group LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 22.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,267 shares of the company’s stock after selling 1,492 shares during the quarter. Ascent Group LLC’s holdings in Elevance Health were worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. GLOBALT Investments LLC GA raised its position in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after purchasing an additional 24 shares during the period. Elser Financial Planning Inc raised its position in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management raised its position in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after buying an additional 27 shares during the last quarter. Finally, Aspen Investment Management Inc raised its position in Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after buying an additional 27 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 3.2%

Shares of Elevance Health stock opened at $351.11 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $510.24. The firm has a market cap of $79.06 billion, a PE ratio of 14.94, a P/E/G ratio of 1.28 and a beta of 0.59. The stock has a fifty day moving average price of $307.98 and a 200-day moving average price of $361.19. 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 (NYSE:ELV) last announced its 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). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same period in the prior year, the business earned $10.12 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on ELV. Truist Financial lowered their price target on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Argus reissued a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. UBS Group lowered their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Finally, Leerink Partners reissued a “market perform” rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $411.06.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were purchased 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 directly owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.