Signature Estate & Investment Advisors LLC Sells 3,683 Shares of Elevance Health, Inc. $ELV

Signature Estate & Investment Advisors LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 58.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,648 shares of the company’s stock after selling 3,683 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Elevance Health were worth $1,152,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Elevance Health in the first quarter worth $29,000. Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares in the last quarter. North Capital Inc. bought a new stake in Elevance Health during the first quarter worth $36,000. Finally, Saudi Central Bank bought a new stake in Elevance Health during the first quarter worth $40,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the 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 completion of the transaction, 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 disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on ELV shares. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Morgan Stanley dropped their price target on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. UBS Group dropped their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday. Barclays upped their price target on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Price Performance

Shares of ELV opened at $308.03 on Tuesday. The firm has a market capitalization of $69.36 billion, a PE ratio of 13.11, a PEG ratio of 1.15 and a beta of 0.59. The company’s 50-day moving average is $310.41 and its 200-day moving average is $372.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $559.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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). The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $10.12 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio is presently 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.