Blair William & Co. IL Has $8 Million Position in Elevance Health, Inc. (NYSE:ELV)

Blair William & Co. IL lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 21.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,756 shares of the company’s stock after purchasing an additional 2,622 shares during the quarter. Blair William & Co. IL’s holdings in Elevance Health were worth $7,995,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ELV. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health in the fourth quarter valued at $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health during the 2nd quarter worth about $28,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health during the 2nd quarter worth about $30,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELV. Bank of America reiterated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley assumed coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price for the company. Truist Financial upped their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $604.29.

Elevance Health Trading Up 0.3 %

ELV opened at $539.79 on Friday. 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 twelve month low of $431.38 and a twelve month high of $567.26. The stock has a market capitalization of $125.46 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.82. The company has a 50-day simple moving average of $536.19 and a 200 day simple moving average of $529.08.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now 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 is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Insiders 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.

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.