Axiom Advisory LLC Purchases 125 Shares of Elevance Health, Inc. (NYSE:ELV)

Axiom Advisory LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the company’s stock after acquiring an additional 125 shares during the period. Axiom Advisory LLC’s holdings in Elevance Health were worth $4,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sara Bay Financial bought a new position in shares of Elevance Health in the 3rd quarter worth approximately $755,000. Hurlow Wealth Management Group Inc. raised its position in Elevance Health by 3.4% in the third quarter. Hurlow Wealth Management Group Inc. now owns 1,271 shares of the company’s stock worth $661,000 after acquiring an additional 42 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Elevance Health by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,442 shares of the company’s stock worth $750,000 after acquiring an additional 56 shares during the last quarter. Eagle Rock Investment Company LLC grew its position in shares of Elevance Health by 25.1% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 14,069 shares of the company’s stock valued at $7,316,000 after acquiring an additional 2,826 shares during the period. Finally, Chemistry Wealth Management LLC increased its stake in shares of Elevance Health by 4.0% in the 3rd quarter. Chemistry Wealth Management LLC now owns 6,793 shares of the company’s stock worth $3,533,000 after purchasing an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other 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 transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s 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 transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on 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 owns 126,709 shares in the company, valued at $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 over the last 90 days. 0.35% of the stock is owned by insiders.

Elevance Health Stock Down 0.0 %

ELV opened at $491.99 on Tuesday. Elevance Health, Inc. has a 52 week low of $435.99 and a 52 week 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 50-day simple moving average of $535.87 and a two-hundred day simple moving average of $529.91. The company has a market capitalization of $114.35 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82.

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

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid 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 of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Analysts Set New Price Targets

ELV has been the subject of several recent research reports. Bank of America reissued a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Truist Financial boosted their price objective on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. TD Cowen decreased their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $604.29.

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.