Trust Investment Advisors Increases Position in Elevance Health, Inc. (NYSE:ELV)

Trust Investment Advisors lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 12.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 509 shares of the company’s stock after buying an additional 57 shares during the quarter. Trust Investment Advisors’ holdings in Elevance Health were worth $276,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position 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 worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in Elevance Health during the 4th quarter valued at approximately $239,244,000. Focused Investors Fund L P bought a new stake in shares of Elevance Health during the first quarter valued at approximately $249,884,000. M&G Plc purchased a new position in shares of Elevance Health in the first quarter worth $203,389,000. Finally, Maj Invest Holding A S purchased a new position in Elevance Health during the second quarter valued at $173,753,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

Shares of ELV opened at $538.00 on Friday. 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. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The company has a 50-day moving average of $536.11 and a 200 day moving average of $528.84.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders 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 dividend yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELV. Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. 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 target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, September 10th. Barclays lowered their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Buy” and a consensus target price of $604.29.

Insider Activity at Elevance Health

In other Elevance Health 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value 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 disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 over the last three months. 0.35% of the stock is owned by corporate 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.