Legacy Financial Advisors Inc. Trims Position in Elevance Health, Inc. (NYSE:ELV)

Legacy Financial Advisors Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,296 shares of the company’s stock after selling 230 shares during the period. Legacy Financial Advisors Inc.’s holdings in Elevance Health were worth $702,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ELV. Bell Investment Advisors Inc raised its stake in shares of Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after acquiring an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after acquiring an additional 20 shares during the period. American Trust boosted its position in Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after purchasing an additional 20 shares in the last quarter. Finally, Sage Rhino Capital LLC boosted its position in Elevance Health by 4.6% in the 1st quarter. Sage Rhino Capital LLC now owns 474 shares of the company’s stock worth $246,000 after purchasing an additional 21 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.3 %

NYSE ELV opened at $539.79 on Friday. The business has a fifty day moving average price of $536.19 and a 200 day moving average price of $529.08. 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 company has a market cap of $125.46 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

ELV has been the subject of several analyst reports. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Truist Financial increased their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $604.29.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction 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 owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 in the last ninety 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.