Carolinas Wealth Consulting LLC Sells 40 Shares of Elevance Health, Inc. (NYSE:ELV)

Carolinas Wealth Consulting LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 36.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71 shares of the company’s stock after selling 40 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Elevance Health were worth $38,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ELV. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares during the period. Morningstar Investment Services LLC purchased a new position in Elevance Health during the 4th quarter valued at about $239,244,000. Focused Investors Fund L P bought a new stake in shares of Elevance Health in the 1st quarter valued at about $249,884,000. M&G Plc purchased a new stake in shares of Elevance Health in the 1st quarter worth approximately $203,389,000. Finally, Maj Invest Holding A S purchased a new stake in shares of Elevance Health in the 2nd quarter worth approximately $173,753,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

Shares of Elevance Health stock opened at $538.00 on Friday. The firm’s 50 day simple moving average is $536.11 and its two-hundred day simple moving average is $528.84. The firm 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. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ELV shares. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Robert W. Baird started coverage on Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. Morgan Stanley started coverage on Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health 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 completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on 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. In the last quarter, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by company insiders.

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.