Rockland Trust Co. Purchases 95 Shares of Elevance Health, Inc. (NYSE:ELV)

Rockland Trust Co. lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 602 shares of the company’s stock after purchasing an additional 95 shares during the period. Rockland Trust Co.’s holdings in Elevance Health were worth $313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank & Trust Co purchased a new position in Elevance Health in the second quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the second quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in Elevance Health during the first quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the 4th quarter valued at $28,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $32,000. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health 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 completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred 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 completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last quarter. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

ELV traded down $6.18 during trading on Friday, hitting $492.07. 1,473,893 shares of the stock were exchanged, compared to its average volume of 1,018,150. The stock has a fifty day moving average price of $535.87 and a two-hundred day moving average price of $529.70. Elevance Health, Inc. has a 1-year low of $435.31 and a 1-year high of $567.26. The firm has a market capitalization of $114.37 billion, a P/E ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. 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 released its earnings results 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 company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter last year, the business earned $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current 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 issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ELV. Royal Bank of Canada boosted their price target on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Barclays decreased their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Wells Fargo & Company lowered their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. TD Cowen dropped their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, Bank of America restated a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One 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 stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and a consensus target price of $604.29.

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.