Moors & Cabot Inc. Decreases Position in Elevance Health, Inc. (NYSE:ELV)

Moors & Cabot Inc. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,007 shares of the company’s stock after selling 180 shares during the quarter. Moors & Cabot Inc.’s holdings in Elevance Health were worth $1,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ELV. Bank & Trust Co purchased a new position in shares of Elevance Health in the second quarter valued at about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at about $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health in the first quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health in the second quarter valued at about $28,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ELV. TD Cowen decreased their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Morgan Stanley started coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Tuesday, September 10th. Royal Bank of Canada boosted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Down 0.7 %

NYSE:ELV opened at $539.46 on Thursday. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50-day simple moving average is $536.03 and its 200 day simple moving average is $528.77. The firm has a market capitalization of $125.38 billion, a P/E ratio of 20.39, a PEG ratio of 1.19 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 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.04 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. 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.