Pacer Advisors Inc. Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Pacer Advisors Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,947 shares of the company’s stock after selling 999 shares during the quarter. Pacer Advisors Inc.’s holdings in Elevance Health were worth $9,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Bank & Trust Co purchased a new stake in Elevance Health in the second quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Elevance Health in the fourth quarter worth $28,000. Palisade Asset Management LLC bought a new position in shares of Elevance Health in the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health in the second quarter worth $28,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the second quarter worth $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health 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 transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value 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 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. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ELV shares. Robert W. Baird started coverage on Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. Royal Bank of Canada raised their price target on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Friday. Truist Financial raised 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 dropped their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One investment 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 MarketBeat.com, Elevance Health has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Down 1.1 %

Shares of ELV stock opened at $533.73 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $536.25 and a two-hundred day moving average price of $529.70. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26. The firm has a market cap of $124.05 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 analyst estimates 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 was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.04 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued 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 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.