Callan Family Office LLC Has $1.75 Million Stock Position in Elevance Health, Inc. $ELV

Key Points

• Callan Family Office LLC increased its stake in Elevance Health, Inc. by 123.6%, owning 4,505 shares valued at approximately $1.75 million as of the latest SEC filing.
• Several institutional investors, notably Private Wealth Management Group LLC and Saudi Central Bank, have recently raised or acquired positions in Elevance Health, contributing to 89.24% of the company's stock being owned by such entities.
• Wall Street analysts have mixed ratings for Elevance Health, with targets ranging from $360.00 to $412.00, while the company reported $49.42 billion in revenue despite missing EPS estimates.

Callan Family Office LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 123.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,505 shares of the company's stock after purchasing an additional 2,490 shares during the period. Callan Family Office LLC's holdings in Elevance Health were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC raised its holdings in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC acquired a new position in shares of Elevance Health during the first quarter valued at about $29,000. North Capital Inc. acquired a new position in shares of Elevance Health during the first quarter valued at about $36,000. Saudi Central Bank acquired a new position in shares of Elevance Health during the first quarter valued at about $40,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Elevance Health during 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 related news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ELV shares. Guggenheim upped their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a "buy" rating in a report on Wednesday. Barclays upped their target price on shares of Elevance Health from $373.00 to $395.00 and gave the stock an "overweight" rating in a report on Thursday. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Weiss Ratings upgraded shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Elevance Health from $330.00 to $412.00 and gave the stock an "overweight" rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $412.00.

Elevance Health Trading Down 1.4%

NYSE:ELV opened at $353.29 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 firm has a market cap of $79.55 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. The firm has a 50-day moving average price of $315.10 and a two-hundred day moving average price of $358.68.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given 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 of this dividend was Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 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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