Key Financial Inc Has $404,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Key Financial Inc lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 473.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 745 shares of the company’s stock after purchasing an additional 615 shares during the quarter. Key Financial Inc’s holdings in Elevance Health were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Richwood Investment Advisors LLC boosted its position in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc lifted its stake in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after acquiring an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its stake in Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares in the last quarter. Finally, American Trust lifted its stake in Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $4.80 during trading on Friday, hitting $556.89. 1,222,934 shares of the stock were exchanged, compared to its average volume of 1,017,118. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $557.60. The company has a market capitalization of $129.43 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company’s fifty day simple moving average is $532.05 and its 200-day simple moving average is $524.68. 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 announced its quarterly earnings data 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 company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter last year, the firm earned $9.04 EPS. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio is 24.64%.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s 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 sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health 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 owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Monday, August 19th. Truist Financial increased their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $604.29.

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.