Elevance Health, Inc. (NYSE:ELV) Shares Sold by Dover Advisors LLC

Dover Advisors LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 775 shares of the company’s stock after selling 22 shares during the period. Dover Advisors LLC’s holdings in Elevance Health were worth $403,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after purchasing an additional 190,118 shares during the last quarter. Capital International Investors boosted its position in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after purchasing an additional 123,802 shares during the period. Legal & General Group Plc grew its stake in Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after buying an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the last quarter. Institutional investors 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 Elevance Health stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $25.15 on Tuesday, reaching $483.87. 2,207,921 shares of the company traded hands, compared to its average volume of 1,027,309. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $112.46 billion, a PE ratio of 18.29, a P/E/G ratio of 1.08 and a beta of 0.82. The company’s 50 day moving average is $531.66 and its 200-day moving average is $529.09. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELV shares. Wells Fargo & Company lowered their price target 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. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Truist Financial boosted their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. Finally, TD Cowen reduced their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price 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.