879 Shares in Elevance Health, Inc. $ELV Acquired by Kaufman Rossin Wealth LLC

Key Points

• Kaufman Rossin Wealth LLC purchased 879 shares of Elevance Health, Inc. for approximately $382,000 during the first quarter of the year, signaling continued interest from institutional investors.
• CEO Gail Boudreaux increased personal holdings by buying 8,500 shares worth nearly $2.44 million, reflecting confidence in the company's future performance.
• Analysts have mixed ratings on Elevance Health, with the average price target currently set at $413.81, indicating a potential for growth despite recent price adjustments from various financial institutions.

Kaufman Rossin Wealth LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 879 shares of the company's stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth about $25,000. Private Wealth Management Group LLC boosted its holdings in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after buying an additional 38 shares during the period. Riverview Trust Co boosted its holdings in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after buying an additional 67 shares during the period. North Capital Inc. bought a new stake in shares of Elevance Health during the 1st quarter worth about $36,000. Finally, Orion Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth about $39,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Guggenheim reduced their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Robert W. Baird cut their price objective 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. UBS Group reissued a "buy" rating and issued a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $413.81.

Insider Buying and Selling

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

Elevance Health Price Performance

Shares of Elevance Health stock traded up $6.2370 on Friday, reaching $315.8370. 2,961,044 shares of the stock were exchanged, compared to its average volume of 2,567,187. The firm's 50 day moving average is $324.18 and its 200-day moving average is $378.55. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $71.12 billion, a PE ratio of 13.44, a P/E/G ratio of 1.16 and a beta of 0.58.

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

Elevance Health Dividend Announcement

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