Keudell Morrison Wealth Management Sells 82 Shares of Elevance Health, Inc. $ELV

Keudell Morrison Wealth Management reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,013 shares of the company’s stock after selling 82 shares during the period. Keudell Morrison Wealth Management’s holdings in Elevance Health were worth $1,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Private Wealth Management Group LLC increased its position in shares of 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 acquiring an additional 38 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Elevance Health during the first quarter worth about $29,000. North Capital Inc. bought a new stake in shares of Elevance Health during the first quarter worth about $36,000. Saudi Central Bank bought a new stake in shares of Elevance Health during the first quarter worth about $40,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Elevance Health during the first quarter worth about $43,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELV shares. Argus reissued a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Guggenheim decreased their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Robert W. Baird decreased their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $411.06.

Elevance Health Stock Up 3.2%

ELV opened at $351.11 on Friday. 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 stock has a market cap of $79.06 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $510.24. The company’s 50-day moving average price is $307.98 and its two-hundred day moving average price is $361.19.

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

Elevance Health Dividend Announcement

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

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost 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. This represents a 52.13% increase in their position. The purchase 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 company’s stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.