Vest Financial LLC Has $22.65 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Vest Financial LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,800 shares of the company’s stock after acquiring an additional 6,967 shares during the quarter. Vest Financial LLC’s holdings in Elevance Health were worth $22,650,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the 4th quarter worth $28,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health during the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the second quarter worth $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’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 completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last three months. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ELV shares. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research report on Tuesday. Stephens reissued an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, TD Cowen lowered their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. One research 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 MarketBeat, Elevance Health currently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Performance

ELV stock opened at $543.39 on Thursday. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The business’s 50-day moving average price is $534.39 and its two-hundred day moving average price is $527.27. The firm has a market cap of $126.01 billion, a PE ratio of 20.54, a P/E/G ratio of 1.19 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.04 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $1.63 dividend. 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 24.64%.

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.