Valeo Financial Advisors LLC Trims Holdings in Elevance Health, Inc. $ELV

Valeo Financial Advisors LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.2% in the second quarter, Holdings Channel reports. The firm owned 3,532 shares of the company’s stock after selling 584 shares during the period. Valeo Financial Advisors LLC’s holdings in Elevance Health were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ELV. CWA Asset Management Group LLC purchased a new stake in Elevance Health during the 1st quarter valued at about $299,000. Focus Partners Wealth lifted its stake in shares of Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after purchasing an additional 982 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after buying an additional 817 shares during the period. GAMMA Investing LLC lifted its position in Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,588 shares during the period. Finally, Asio Capital LLC lifted its holdings in shares of Elevance Health by 7.1% during the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after purchasing an additional 1,015 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Elevance Health in a research report on Saturday, September 27th. Truist Financial reduced their price objective 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. Argus reaffirmed a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Barclays upped their price target on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $416.19.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought 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 owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% 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 Stock Performance

Shares of ELV opened at $357.52 on Wednesday. The business has a 50-day simple moving average of $310.64 and a two-hundred day simple moving average of $360.12. The stock has a market cap of $80.51 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV) last released 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). The firm had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.12 earnings per share. On average, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared 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 dividend payout ratio is presently 29.11%.

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.