Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,414 shares of the company’s stock after acquiring an additional 1,673 shares during the quarter. Elevance Health accounts for 3.0% of Evergreen Wealth Management LLC’s holdings, making the stock its 11th largest position. Evergreen Wealth Management LLC’s holdings in Elevance Health were worth $4,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Milestone Asset Management LLC lifted its stake in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. Elser Financial Planning Inc boosted its position in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC lifted its position in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after acquiring an additional 27 shares during the period. Prudent Man Advisors LLC lifted its position in Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after acquiring an additional 28 shares during the period. Finally, Barlow Wealth Partners Inc. raised its stake in shares of Elevance Health by 1.3% during the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company’s stock worth $961,000 after buying an additional 30 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 6.7%

Shares of ELV stock traded down $20.12 on Friday, hitting $282.33. The company had a trading volume of 742,727 shares, compared to its average volume of 1,648,214. The firm has a market cap of $63.79 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.88 and a beta of 0.60. The stock’s 50-day moving average is $374.07 and its two-hundred day moving average is $396.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a twelve month low of $281.79 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period last year, the firm posted $10.12 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Tuesday, June 10th. Elevance Health’s payout ratio is 26.69%.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ELV has been the subject of several recent research reports. Truist Financial dropped their price target on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price target on Elevance Health from $478.00 to $400.00 and set an “overweight” rating on the stock in a research report on Tuesday. Baird R W lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $456.44.

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.