Moloney Securities Asset Management LLC Has $584,000 Holdings in Elevance Health, Inc. $ELV

Moloney Securities Asset Management LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,501 shares of the company’s stock after selling 208 shares during the period. Moloney Securities Asset Management LLC’s holdings in Elevance Health were worth $584,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ELV. GAMMA Investing LLC increased its holdings in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after buying an additional 1,588 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Elevance Health by 2.2% in the first quarter. Oppenheimer & Co. Inc. now owns 5,744 shares of the company’s stock valued at $2,498,000 after purchasing an additional 123 shares during the period. Golden State Wealth Management LLC raised its position in Elevance Health by 129.2% during the 1st quarter. Golden State Wealth Management LLC now owns 463 shares of the company’s stock worth $202,000 after purchasing an additional 261 shares during the last quarter. Pure Financial Advisors LLC raised its position in Elevance Health by 5.1% during the 1st quarter. Pure Financial Advisors LLC now owns 1,973 shares of the company’s stock worth $858,000 after purchasing an additional 95 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Elevance Health by 15.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company’s stock worth $2,922,000 after purchasing an additional 913 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Elevance Health in a research report on Friday. Guggenheim raised their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Barclays lowered their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday. Sanford C. Bernstein lowered their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $397.89.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $342.45 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $327.09 and a two-hundred day moving average price of $353.39. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a market cap of $76.11 billion, a P/E ratio of 14.00, a PEG ratio of 1.26 and a beta of 0.59.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same period last year, the business posted $8.37 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.