Ameritas Advisory Services LLC Has $394,000 Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Ameritas Advisory Services LLC has reduced its stake in Elevance Health, Inc. by 50.4%, now holding shares worth $394,000 after selling 1,029 shares during the second quarter.
• Director Susan D. Devore and CEO Gail Boudreaux made significant stock purchases, indicating confidence in the company's future performance, with Boudreaux increasing her holdings to over $43 million.
• Elevance Health recently reported quarterly earnings, with $8.84 EPS falling short of expectations, yet the company's revenue reached $49.42 billion, surpassing analysts' forecasts.

Ameritas Advisory Services LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,014 shares of the company's stock after selling 1,029 shares during the quarter. Ameritas Advisory Services LLC's holdings in Elevance Health were worth $394,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Private Wealth Management Group LLC grew its holdings in 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 acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new stake in Elevance Health in the 1st quarter valued at about $29,000. North Capital Inc. acquired a new stake in shares of Elevance Health in the 1st quarter worth about $36,000. Saudi Central Bank purchased a new position in shares of Elevance Health during the first quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Elevance Health in the first quarter valued at about $43,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was acquired 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. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $350.08 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. The firm has a market cap of $78.83 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59. The business has a 50-day simple moving average of $309.26 and a two-hundred day simple moving average of $360.14.

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 analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $10.12 EPS. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ELV shares. Guggenheim lowered their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Robert W. Baird decreased their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Barclays upped their target price on Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Elevance Health in a report on Saturday, September 27th. Finally, Morgan Stanley decreased their price target on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $411.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.