Bradley Foster & Sargent Inc. CT Sells 25 Shares of Elevance Health, Inc. (NYSE:ELV)

Bradley Foster & Sargent Inc. CT cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 607 shares of the company’s stock after selling 25 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Elevance Health were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the second quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of Elevance Health in the first quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health in the fourth quarter worth $28,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Elevance Health during the 1st quarter worth $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE:ELV opened at $538.00 on Friday. The company has a market capitalization of $125.04 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.19 and a beta of 0.82. The company has a 50-day moving average of $536.11 and a 200-day moving average of $528.84. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the business earned $9.04 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ELV shares. Truist Financial lifted their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Morgan Stanley began coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. Finally, Bank of America restated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $604.29.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company 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.