Callan Capital LLC Buys 391 Shares of Elevance Health, Inc. (NYSE:ELV)

Callan Capital LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 83.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 860 shares of the company’s stock after purchasing an additional 391 shares during the period. Callan Capital LLC’s holdings in Elevance Health were worth $466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank & Trust Co acquired a new stake in shares of Elevance Health in the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health in the fourth quarter valued at about $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health during the 2nd quarter worth about $28,000. Finally, Strategic Financial Concepts LLC acquired a new position in Elevance Health during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELV. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Robert W. Baird initiated coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. Wells Fargo & Company reduced their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Barclays cut their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $604.29.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction 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 sale, 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 SEC, which is accessible through the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last three months. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $539.79 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $125.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.19 and a beta of 0.82. The business has a 50 day simple moving average of $536.19 and a 200 day simple moving average of $529.08. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend 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%.

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.