Pinkerton Retirement Specialists LLC Acquires 328 Shares of Elevance Health, Inc. (NYSE:ELV)

Pinkerton Retirement Specialists LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 5,924 shares of the company’s stock after buying an additional 328 shares during the period. Pinkerton Retirement Specialists LLC’s holdings in Elevance Health were worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ELV. Norges Bank bought a new position in Elevance Health in the fourth quarter worth approximately $1,347,434,000. Morningstar Investment Services LLC bought a new position in Elevance Health in the fourth quarter worth approximately $239,244,000. Focused Investors Fund L P bought a new position in Elevance Health in the first quarter worth approximately $249,884,000. M&G Plc bought a new position in Elevance Health in the first quarter worth approximately $203,389,000. Finally, Maj Invest Holding A S bought a new position in Elevance Health in the second quarter worth approximately $173,753,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $545.78 on Friday. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26. The company has a market cap of $126.85 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.19 and a beta of 0.82. The firm’s fifty day moving average is $534.70 and its two-hundred day moving average is $527.40. 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 (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period last year, the company posted $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 37.25 EPS 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. Investors of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ELV shares. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens restated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Truist Financial raised their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. TD Cowen decreased their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, Royal Bank of Canada raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Buy” and an average price target of $604.29.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated 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 transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Elevance Health 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 value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the company’s 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 transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,058 shares of company stock valued at $17,588,116. Company insiders own 0.35% of the company’s stock.

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.