Great Lakes Advisors LLC Has $10.29 Million Position in Elevance Health, Inc. (NYSE:ELV)

Great Lakes Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,993 shares of the company’s stock after acquiring an additional 1,149 shares during the period. Great Lakes Advisors LLC’s holdings in Elevance Health were worth $10,291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Bank & Trust Co acquired a new stake in shares of Elevance Health during the second quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health during the 1st quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Elevance Health in the 4th quarter valued at about $28,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at approximately $32,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.5 %

Shares of Elevance Health stock opened at $541.91 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day simple moving average of $533.79 and a two-hundred day simple moving average of $526.61. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $567.26. The company has a market capitalization of $125.95 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.22 and a beta of 0.84.

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

Elevance Health Dividend Announcement

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

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELV shares. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Royal Bank of Canada upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Monday, August 19th. Truist Financial increased their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company cut their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $604.29.

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.