Berger Financial Group Inc Has $5.65 Million Stake in Elevance Health, Inc. $ELV

Berger Financial Group Inc lifted its position in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,523 shares of the company’s stock after buying an additional 275 shares during the quarter. Berger Financial Group Inc’s holdings in Elevance Health were worth $5,649,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at $299,000. Focus Partners Wealth lifted its position in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Elevance Health by 11.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after acquiring an additional 817 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,588 shares during the last quarter. Finally, Asio Capital LLC increased its holdings in shares of Elevance Health by 7.1% during the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after acquiring an additional 1,015 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a report on Saturday, September 27th. Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Argus reaffirmed a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Trading Up 3.2%

Shares of ELV stock opened at $351.11 on Friday. The firm has a market capitalization of $79.06 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $510.24. The firm’s fifty day simple moving average is $307.98 and its 200 day simple moving average is $361.19. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.12 earnings per share. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio is 29.11%.

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.