Elevance Health, Inc. (NYSE:ELV) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,074 shares of the company’s stock after purchasing an additional 5,026 shares during the quarter. Truist Financial Corp owned about 0.24% of Elevance Health worth $298,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Tower Research Capital LLC TRC raised its holdings in shares of Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after acquiring an additional 16,737 shares during the last quarter. Brave Warrior Advisors LLC lifted its holdings in shares of Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after purchasing an additional 129,055 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in shares of Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after buying an additional 11,627 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. TD Cowen reduced their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Stephens restated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Barclays decreased their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Morgan Stanley began coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Performance

NYSE:ELV opened at $520.00 on Tuesday. The company has a fifty day moving average of $536.87 and a 200-day moving average of $530.24. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $120.86 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter last year, the company posted $9.04 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 over the last three months. 0.35% of the stock is currently owned by 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.