Milestone Asset Management LLC Buys 64 Shares of Elevance Health, Inc. (NYSE:ELV)

Milestone Asset Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.9% during the second quarter, HoldingsChannel.com reports. The fund owned 782 shares of the company’s stock after buying an additional 64 shares during the quarter. Milestone Asset Management LLC’s holdings in Elevance Health were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in shares of Elevance Health in the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in Elevance Health during the fourth quarter worth $28,000. Palisade Asset Management LLC bought a new stake in Elevance Health during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 2nd quarter valued at $28,000. Finally, Alaska Permanent Fund Corp bought a new position in shares of Elevance Health in the 4th quarter worth $31,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays decreased their price objective on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Performance

Shares of ELV opened at $543.44 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50-day moving average of $529.93 and a two-hundred day moving average of $522.31. The stock has a market cap of $126.31 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $555.35.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $9.04 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock valued at $17,588,116 over the last 90 days. Insiders own 0.35% of the company’s stock.

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.