Gratus Wealth Advisors LLC Has $869,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Gratus Wealth Advisors LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 8.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,767 shares of the company’s stock after selling 154 shares during the period. Gratus Wealth Advisors LLC’s holdings in Elevance Health were worth $869,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. M&G Plc acquired a new stake in shares of Elevance Health in the first quarter worth $203,389,000. Maj Invest Holding A S acquired a new position in Elevance Health in the 2nd quarter valued at $173,753,000. First Eagle Investment Management LLC raised its holdings in Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after acquiring an additional 275,708 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in Elevance Health during the 1st quarter worth $109,435,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $489.47 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $535.11 and a 200 day moving average price of $529.75. The firm has a market capitalization of $113.76 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $435.99 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 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 the consensus estimate of $42.99 billion. During the same quarter last year, the company earned $9.04 EPS. Elevance Health’s revenue was down .4% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Barclays lowered 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. Royal Bank of Canada raised their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Morgan Stanley started coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Buy” and an average target price of $604.29.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 in the last ninety days. 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.