Ascent Group LLC Has $2.05 Million Stake in Elevance Health, Inc. $ELV

Key Points

• Ascent Group LLC reduced its stake in Elevance Health by 22.1%, retaining 5,267 shares valued at approximately $2.05 million at the end of the last quarter.
• CEO Gail Boudreaux bought 8,500 shares at $286.94 each, increasing her ownership by nearly 6% and holding a total of shares valued around $43.33 million.
• Analysts have issued varying price targets and ratings for Elevance Health, with an average price target of $411.06 and a consensus rating of "Moderate Buy."

Ascent Group LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,267 shares of the company's stock after selling 1,492 shares during the quarter. Ascent Group LLC's holdings in Elevance Health were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in Elevance Health during the first quarter worth about $299,000. Focus Partners Wealth grew its holdings in shares of Elevance Health by 4.6% during 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 last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock worth $3,125,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Asio Capital LLC grew its holdings in shares of Elevance Health by 7.1% during the second quarter. Asio Capital LLC now owns 15,371 shares of the company's stock worth $5,979,000 after purchasing an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ELV shares. Robert W. Baird reduced their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Guggenheim reduced their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Weiss Ratings restated a "sell (d+)" rating on shares of Elevance Health in a report on Saturday, September 27th. Truist Financial reduced their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $411.06.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The shares were purchased at an average cost 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 of the company's stock, valued at approximately $43,333,678.80. This represents a 5.96% 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, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of 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 disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $351.11 on Friday. The business's 50 day simple moving average is $307.98 and its 200 day simple moving average is $361.19. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24. The stock has a market capitalization of $79.06 billion, a PE ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

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

Elevance Health Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

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.

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