Heartland Bank & Trust Co Takes $411,000 Position in Elevance Health, Inc. (NYSE:ELV)

Heartland Bank & Trust Co acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 759 shares of the company’s stock, valued at approximately $411,000.

Other hedge funds have also bought and sold shares of the company. Bank & Trust Co bought a new position in shares of Elevance Health during the 2nd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at $28,000. Palisade Asset Management LLC bought a new position in shares of Elevance Health during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the second quarter worth $28,000. Finally, Strategic Financial Concepts LLC bought a new stake in Elevance Health in the second quarter worth $30,000. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley initiated coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Finally, TD Cowen decreased 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. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average target price of $604.29.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated 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 transaction, 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 the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

ELV opened at $520.00 on Tuesday. The stock has a fifty day simple moving average of $536.87 and a two-hundred day simple moving average of $530.24. The company has a market cap of $120.86 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26.

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

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a dividend of $1.63 per share. 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 (DPR) is presently 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.