Trust Co. of Toledo NA OH Makes New Investment in Elevance Health, Inc. $ELV

Trust Co. of Toledo NA OH acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 110 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares during the period. Orbis Allan Gray Ltd increased its holdings in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after buying an additional 324,040 shares during the period. Invesco Ltd. increased its holdings in Elevance Health by 1.2% in the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after buying an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Elevance Health by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after buying an additional 29,174 shares during the period. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ELV. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Robert W. Baird decreased their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Finally, UBS Group decreased their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $412.00.

Insider Buying and Selling

In other news, CEO Gail Boudreaux purchased 8,500 shares of the company’s stock in a transaction dated Friday, July 18th. The shares were purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.5%

ELV opened at $351.43 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $79.14 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.29 and a beta of 0.59. The company’s 50 day moving average price is $316.63 and its two-hundred day moving average price is $357.61.

Elevance Health (NYSE:ELV) last posted 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). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the previous year, the firm earned $10.12 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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

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.