ASB Consultores LLC Sells 92 Shares of Elevance Health, Inc. (NYSE:ELV)

ASB Consultores LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557 shares of the company’s stock after selling 92 shares during the period. ASB Consultores LLC’s holdings in Elevance Health were worth $302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in Elevance Health by 114.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in Elevance Health by 7.9% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after purchasing an additional 129,055 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Bank of Nova Scotia increased its holdings in Elevance Health by 276.0% during the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after purchasing an additional 60,436 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after purchasing an additional 6,610 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s 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 of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s 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 of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last quarter. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.3 %

ELV opened at $538.00 on Friday. The stock has a market cap of $125.04 billion, a PE ratio of 20.33, a P/E/G ratio of 1.19 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, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The business’s fifty day simple moving average is $536.11 and its 200 day simple moving average is $528.84.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter last year, the firm earned $9.04 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders 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 annualized dividend and a yield of 1.21%. Elevance Health’s payout ratio is currently 24.64%.

Analyst Ratings Changes

A number of brokerages have commented on ELV. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a report on Tuesday, September 10th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Robert W. Baird initiated coverage on Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price on the stock. Finally, Bank of America restated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price 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.