2,816 Shares in Elevance Health, Inc. $ELV Purchased by WBI Investments LLC

Key Points

• WBI Investments LLC has acquired 2,816 shares of Elevance Health, valued at approximately $1,225,000, as part of their new position in the company.
• Several institutional investors, including Geneos Wealth Management and IFM Investors, have increased their holdings in Elevance Health, contributing to institutional ownership now at 89.24%.
• Elevance Health's quarterly earnings report revealed an EPS of $8.84, which missed the consensus estimate, even as revenue rose by 14.3% year-over-year to $49.42 billion.

WBI Investments LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,816 shares of the company's stock, valued at approximately $1,225,000.

Several other institutional investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its holdings in Elevance Health by 4.0% in the first quarter. Geneos Wealth Management Inc. now owns 24,262 shares of the company's stock worth $10,553,000 after purchasing an additional 940 shares during the period. IFM Investors Pty Ltd lifted its holdings in Elevance Health by 1.1% in the first quarter. IFM Investors Pty Ltd now owns 47,157 shares of the company's stock worth $20,511,000 after purchasing an additional 524 shares during the period. Focus Partners Wealth lifted its holdings in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock worth $9,764,000 after purchasing an additional 982 shares during the period. Ransom Advisory Ltd acquired a new stake in Elevance Health in the first quarter worth about $522,000. Finally, Glenview Trust co lifted its holdings in Elevance Health by 10.2% in the first quarter. Glenview Trust co now owns 1,144 shares of the company's stock worth $498,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. Leerink Partnrs downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners reissued a "market perform" rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Robert W. Baird cut their price target on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $411.06.

Insider Activity

In related news, Director Susan D. Devore acquired 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

NYSE ELV opened at $307.01 on Thursday. The stock's 50-day moving average price is $307.94 and its two-hundred day moving average price is $371.82. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $69.13 billion, a PE ratio of 13.06, a PEG ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $559.95.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 EPS. On average, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

About Elevance Health

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.

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