Silver Oak Securities Incorporated Purchases 262 Shares of Elevance Health, Inc. $ELV

Silver Oak Securities Incorporated increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,565 shares of the company’s stock after purchasing an additional 262 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Elevance Health were worth $609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Professional Advisory Services Inc. lifted its position in Elevance Health by 7.2% during the second quarter. Professional Advisory Services Inc. now owns 75,184 shares of the company’s stock worth $29,244,000 after purchasing an additional 5,017 shares during the period. Diversified Trust Co lifted its holdings in shares of Elevance Health by 35.3% in the second quarter. Diversified Trust Co now owns 36,209 shares of the company’s stock worth $14,084,000 after acquiring an additional 9,454 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Elevance Health by 234.3% in the second quarter. Assenagon Asset Management S.A. now owns 380,441 shares of the company’s stock worth $147,976,000 after acquiring an additional 266,631 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Elevance Health by 19.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 33,536 shares of the company’s stock worth $13,044,000 after acquiring an additional 5,500 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Elevance Health by 2.5% in the second quarter. IFM Investors Pty Ltd now owns 48,354 shares of the company’s stock worth $18,808,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost 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 in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial dropped their target price on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, UBS Group lowered their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $411.06.

Elevance Health Trading Down 0.6%

Shares of Elevance Health stock opened at $313.90 on Monday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $542.22. The firm has a market cap of $70.68 billion, a PE ratio of 13.36, a P/E/G ratio of 1.15 and a beta of 0.59. The stock has a fifty day moving average price of $303.03 and a 200-day moving average price of $367.37. 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 announced its 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). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same period in the prior year, the business earned $10.12 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. 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 (DPR) is currently 29.11%.

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.