Atlantic Union Bankshares Corp Increases Holdings in Elevance Health, Inc. $ELV

Atlantic Union Bankshares Corp boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 335.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,431 shares of the company’s stock after purchasing an additional 8,036 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Elevance Health were worth $4,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ELV. Private Wealth Management Group LLC raised its holdings in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. WPG Advisers LLC purchased a new position in Elevance Health during the 1st quarter valued at about $29,000. Glass Jacobson Investment Advisors llc raised its holdings in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Elevance Health in the 1st quarter worth approximately $40,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the first quarter valued at approximately $43,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased 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 directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.9%

Shares of NYSE:ELV opened at $315.08 on Friday. The business’s 50-day moving average is $329.44 and its 200 day moving average is $345.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm has a market capitalization of $70.02 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the previous year, the firm earned $8.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. 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. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Morgan Stanley lifted their target price on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Sanford C. Bernstein decreased their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $397.33.

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.