Elevance Health, Inc. (NYSE:ELV) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,229 shares of the company’s stock after selling 450 shares during the period. Axxcess Wealth Management LLC’s holdings in Elevance Health were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bell Investment Advisors Inc raised its position in Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after acquiring an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. grew its position in Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after acquiring an additional 20 shares in the last quarter. American Trust increased its stake in Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after purchasing an additional 20 shares during the period. Finally, Sage Rhino Capital LLC lifted its position in shares of Elevance Health by 4.6% during the first quarter. Sage Rhino Capital LLC now owns 474 shares of the company’s stock worth $246,000 after purchasing an additional 21 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. 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 ninety days. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ELV shares. Bank of America restated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report 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. Truist Financial boosted their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays reduced their price target on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Tuesday, September 10th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Down 0.3 %

NYSE ELV opened at $538.00 on Friday. The firm’s fifty day moving average price is $536.11 and its 200 day moving average price is $528.84. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month 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 has a market capitalization of $125.04 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion for 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 business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.04 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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