Auxier Asset Management Lowers Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Auxier Asset Management cut its position in Elevance Health, Inc. (NYSE:ELV) by 14.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,205 shares of the company’s stock after selling 6,529 shares during the quarter. Elevance Health comprises about 3.2% of Auxier Asset Management’s portfolio, making the stock its 4th biggest holding. Auxier Asset Management’s holdings in Elevance Health were worth $20,160,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts recently commented on ELV shares. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Royal Bank of Canada upped their target price on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Truist Financial boosted their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling at Elevance Health

In other news, 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 value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $539.79 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The firm has a market cap of $125.46 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The firm’s fifty day moving average is $536.19 and its 200-day moving average is $529.08.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) 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 business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same period last year, the company earned $9.04 EPS. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

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