Elevance Health, Inc. (NYSE:ELV) Position Reduced by Marcum Wealth LLC

Marcum Wealth LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 516 shares of the company’s stock after selling 39 shares during the period. Marcum Wealth LLC’s holdings in Elevance Health were worth $268,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its stake in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. raised its stake in Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the period. American Trust raised its stake in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Fiduciary Alliance LLC raised its stake in Elevance Health by 3.6% during the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after purchasing an additional 21 shares during the period. Finally, Ascent Wealth Partners LLC raised its stake in Elevance Health by 1.8% during the 1st quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after purchasing an additional 21 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the 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 directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.0 %

ELV stock opened at $501.88 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 52-week low of $435.99 and a 52-week high of $567.26. The company has a 50-day moving average of $531.94 and a two-hundred day moving average of $529.01. The stock has a market capitalization of $116.38 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $9.04 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 22.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Bank of America restated a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $605.07.

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.