Semmax Financial Advisors Inc. Increases Position in Elevance Health, Inc. (NYSE:ELV)

Semmax Financial Advisors Inc. increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,053 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Elevance Health were worth $3,750,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Sanders Capital LLC grew its position in shares of Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after buying an additional 196,010 shares during the last quarter. Capital International Investors increased its position in shares of Elevance Health by 3.7% during the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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. First Eagle Investment Management LLC lifted its holdings in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after purchasing an additional 275,708 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Elevance Health by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock worth $1,011,888,000 after buying an additional 23,872 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s 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 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 Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s 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 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 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ELV. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Barclays reduced their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Robert W. Baird initiated coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. TD Cowen decreased their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Morgan Stanley started coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Down 1.1 %

ELV stock opened at $533.73 on Tuesday. The stock has a market capitalization of $124.05 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The firm has a 50-day simple moving average of $536.25 and a 200-day simple moving average of $529.70. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the previous year, the company posted $9.04 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health Company 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.