Bell Investment Advisors Inc Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Bell Investment Advisors Inc lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,029 shares of the company’s stock after buying an additional 26 shares during the quarter. Bell Investment Advisors Inc’s holdings in Elevance Health were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Johnson Investment Counsel Inc. lifted its position in shares of Elevance Health by 25.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 7,208 shares of the company’s stock worth $3,905,000 after buying an additional 1,480 shares during the last quarter. Achmea Investment Management B.V. lifted its position in shares of Elevance Health by 3.5% during the 2nd quarter. Achmea Investment Management B.V. now owns 44,743 shares of the company’s stock worth $24,244,000 after buying an additional 1,533 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Elevance Health by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 103,212 shares of the company’s stock worth $55,926,000 after buying an additional 9,442 shares during the last quarter. LPL Financial LLC lifted its position in shares of Elevance Health by 9.7% during the 2nd quarter. LPL Financial LLC now owns 174,455 shares of the company’s stock worth $94,530,000 after buying an additional 15,424 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of Elevance Health by 16.8% during the 2nd quarter. Angeles Wealth Management LLC now owns 799 shares of the company’s stock worth $433,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s 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 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 accessible through the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at $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 ninety days. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $543.39 on Thursday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. 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 cap of $126.01 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The firm’s fifty day simple moving average is $534.39 and its 200-day simple moving average is $527.27.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share 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 for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the prior year, the company posted $9.04 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELV shares. Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Robert W. Baird started coverage on shares of Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. Royal Bank of Canada upped their price target 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. Finally, Truist Financial upped their price target 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. One investment 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. Based on data from MarketBeat, Elevance Health presently has an average rating of “Buy” and an average price target 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.