Patriot Financial Group Insurance Agency LLC Purchases 709 Shares of Elevance Health, Inc. $ELV

Patriot Financial Group Insurance Agency LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 12.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,492 shares of the company’s stock after purchasing an additional 709 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Elevance Health were worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Versant Capital Management Inc grew its holdings in Elevance Health by 76.1% during the first quarter. Versant Capital Management Inc now owns 125 shares of the company’s stock valued at $54,000 after purchasing an additional 54 shares during the period. NBC Securities Inc. bought a new position in Elevance Health during the first quarter valued at $90,000. Merit Financial Group LLC grew its holdings in Elevance Health by 87.0% during the first quarter. Merit Financial Group LLC now owns 6,393 shares of the company’s stock valued at $2,781,000 after purchasing an additional 2,975 shares during the period. Fulton Bank N.A. lifted its position in shares of Elevance Health by 42.6% during the first quarter. Fulton Bank N.A. now owns 1,540 shares of the company’s stock worth $670,000 after acquiring an additional 460 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in shares of Elevance Health by 7.0% during the first quarter. RFG Advisory LLC now owns 1,945 shares of the company’s stock worth $846,000 after acquiring an additional 128 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 2.3%

ELV opened at $340.18 on Friday. The stock has a market cap of $76.60 billion, a PE ratio of 14.48, a P/E/G ratio of 1.22 and a beta of 0.59. The business’s fifty day simple moving average is $306.74 and its 200 day simple moving average is $362.26. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24.

Elevance Health (NYSE:ELV) last issued its 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 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the prior year, the company earned $10.12 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Leerink Partners restated a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. UBS Group dropped their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Guggenheim dropped their target price on Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $411.06.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health 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.