Legacy Financial Advisors Inc. Sells 230 Shares of Elevance Health, Inc. (NYSE:ELV)

Legacy Financial Advisors Inc. lowered its position in Elevance Health, Inc. (NYSE:ELV) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,296 shares of the company’s stock after selling 230 shares during the period. Legacy Financial Advisors Inc.’s holdings in Elevance Health were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the second quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health during the first quarter valued at $28,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Elevance Health in the fourth quarter worth about $28,000. Finally, Register Financial Advisors LLC purchased a new position in Elevance Health in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction 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 completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gail Boudreaux sold 34,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Over 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 corporate insiders.

Elevance Health Stock Up 0.3 %

NYSE:ELV opened at $539.79 on Friday. The company’s 50-day simple moving average is $536.19 and its 200-day simple moving average is $529.08. 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 fifty-two week low of $431.38 and a fifty-two week high of $567.26. The stock has a market capitalization of $125.46 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $9.04 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

ELV has been the subject of several research reports. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Royal Bank of Canada increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. TD Cowen decreased their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $604.29.

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.