Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in Elevance Health, Inc. (NYSE:ELV) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 123,872 shares of the company’s stock after acquiring an additional 11,513 shares during the quarter. Sei Investments Co.’s holdings in Elevance Health were worth $67,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the second quarter valued at $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the first quarter valued at about $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the fourth quarter worth about $28,000. Finally, Register Financial Advisors LLC bought a new position in Elevance Health in the 1st quarter valued at about $32,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $539.86 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $567.26. The company has a market cap of $125.47 billion, a PE ratio of 20.40, a PEG ratio of 1.19 and a beta of 0.82. The stock’s 50-day moving average price is $536.19 and its two-hundred day moving average price is $529.30.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the previous year, the business earned $9.04 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

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

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated 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 approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s 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 directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction 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 approximately $63,478,674.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Stephens reaffirmed an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Wells Fargo & Company lowered their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a report on Friday. Finally, Morgan Stanley assumed coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $604.29.

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.