Blair William & Co. IL Has $2.65 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Blair William & Co. IL reduced its stake in Elevance Health by 13.8% during the first quarter, ending with 6,080 shares valued at approximately $2.65 million.
• CEO Gail Boudreaux acquired 8,500 shares of Elevance Health, increasing her holdings by 5.96% and bringing her total shares to 151,020.
• Analysts have downgraded Elevance Health's stock price targets, with Robert W. Baird lowering their target from $492 to $297, indicating a shift in market sentiment.

Blair William & Co. IL reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,080 shares of the company's stock after selling 976 shares during the period. Blair William & Co. IL's holdings in Elevance Health were worth $2,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Wealth Management Group LLC lifted 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 valued at $27,000 after buying an additional 38 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in Elevance Health in the fourth quarter worth approximately $25,000. Riverview Trust Co increased its stake 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 purchasing an additional 67 shares during the last quarter. North Capital Inc. bought a new position in shares of Elevance Health during the 1st quarter valued at $36,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at $43,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Robert W. Baird lowered their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Guggenheim reduced their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $418.19.

Elevance Health Price Performance

NYSE:ELV opened at $283.65 on Friday. 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 company has a 50-day moving average of $341.96 and a 200-day moving average of $386.08. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $567.26. The company has a market capitalization of $63.87 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.01 and a beta of 0.58.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.12 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share 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. Investors 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 2.4%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

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.

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