Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.7% during the third quarter, HoldingsChannel reports. The firm owned 2,348 shares of the company’s stock after buying an additional 265 shares during the period. Wedmont Private Capital’s holdings in Elevance Health were worth $1,155,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. New Mexico Educational Retirement Board raised its stake in shares of Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,800 shares during the period. Blair William & Co. IL boosted its position in Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares during the last quarter. AMI Investment Management Inc. purchased a new position in Elevance Health in the third quarter valued at about $1,294,000. Artemis Investment Management LLP grew its position in shares of Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after buying an additional 11,627 shares in the last quarter. Finally, BDF Gestion bought a new stake in shares of Elevance Health in the 2nd quarter worth about $5,837,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

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 completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on 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 approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. 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 90 days. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. Morgan Stanley began coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. TD Cowen dropped their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Tuesday, October 1st. Finally, Barclays raised their target price on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $605.07.

Elevance Health Stock Performance

Shares of ELV opened at $492.18 on Friday. The firm has a market capitalization of $114.39 billion, a PE ratio of 18.60, a P/E/G ratio of 1.17 and a beta of 0.82. 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 $533.40 and a 200 day moving average price of $529.32. Elevance Health, Inc. has a 52-week low of $435.99 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $9.04 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.32%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.