Clarius Group LLC Has $552,000 Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Clarius Group LLC reduced its holdings in Elevance Health by 40.2% in Q2, leaving them with 1,418 shares valued at $552,000.
• Director Susan D. Devore and CEO Gail Boudreaux both recently purchased significant amounts of Elevance Health stock, increasing their ownership stakes by 52.13% and 5.96%, respectively.
• Analysts have mixed ratings for Elevance Health, with Guggenheim and JPMorgan reducing price targets but maintaining "buy" and "overweight" ratings, while Wall Street Zen downgraded the stock to "hold."

Clarius Group LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 40.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,418 shares of the company's stock after selling 954 shares during the quarter. Clarius Group LLC's holdings in Elevance Health were worth $552,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Private Wealth Management Group LLC raised its stake 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 buying an additional 38 shares during the period. WPG Advisers LLC acquired a new stake in shares of Elevance Health during the first quarter worth about $29,000. North Capital Inc. bought a new position in shares of Elevance Health during the 1st quarter valued at about $36,000. Saudi Central Bank acquired a new position in shares of Elevance Health in the 1st quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC acquired a new stake in Elevance Health during the 1st quarter worth approximately $43,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Susan D. Devore bought 1,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost 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 $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, 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. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELV. Guggenheim reduced their price target 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. JPMorgan Chase & Co. reduced their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Barclays upped their price objective on Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Elevance Health in a research report on Saturday, September 27th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $411.06.

Elevance Health Stock Performance

ELV opened at $351.11 on Monday. The business's 50-day simple moving average is $307.98 and its 200 day simple moving average is $360.68. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. 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 capitalization of $79.06 billion, a PE ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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). The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $10.12 earnings per share. As a group, sell-side analysts expect 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 was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was 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.

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