Arista Wealth Management LLC Purchases New Holdings in Elevance Health, Inc. (NYSE:ELV)

Arista Wealth Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 858 shares of the company’s stock, valued at approximately $465,000.

A number of other hedge funds also recently made changes to their positions in ELV. Sei Investments Co. lifted its position in shares of Elevance Health by 10.2% during the 2nd quarter. Sei Investments Co. now owns 123,872 shares of the company’s stock valued at $67,117,000 after buying an additional 11,513 shares during the last quarter. AE Wealth Management LLC boosted its position in Elevance Health by 13.9% during the second quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock worth $2,820,000 after purchasing an additional 637 shares during the period. Callan Capital LLC increased its stake in shares of Elevance Health by 83.4% in the second quarter. Callan Capital LLC now owns 860 shares of the company’s stock worth $466,000 after purchasing an additional 391 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Elevance Health by 1.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,956 shares of the company’s stock valued at $1,602,000 after buying an additional 41 shares in the last quarter. Finally, Trust Investment Advisors boosted its holdings in Elevance Health by 12.6% in the 2nd quarter. Trust Investment Advisors now owns 509 shares of the company’s stock worth $276,000 after buying an additional 57 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health 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 sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on 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 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 document filed with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.3 %

ELV stock opened at $539.79 on Friday. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a market capitalization of $125.46 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company’s 50 day moving average price is $536.19 and its two-hundred day moving average price is $529.08. 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 posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same period in the prior year, the business posted $9.04 earnings per share. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 37.25 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 Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Robert W. Baird began coverage on shares of Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada lifted their price objective on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research 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, the company currently has an average rating of “Buy” and a consensus price target of $604.29.

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.