Diversified Trust Co Purchases 9,454 Shares of Elevance Health, Inc. $ELV

Key Points

• Diversified Trust Co increased its stake in Elevance Health by 35.3%, acquiring an additional 9,454 shares, bringing its total holdings to 36,209 shares valued at $14,084,000.
• Several hedge funds, including Assenagon Asset Management, have significantly increased their holdings in Elevance Health, with Assenagon growing its stake by 234.3% in the second quarter.
• Analysts have lowered their price targets for Elevance Health, with the consensus rating now at "Moderate Buy" and an average price target of $411.06.

Diversified Trust Co raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 35.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,209 shares of the company's stock after buying an additional 9,454 shares during the quarter. Diversified Trust Co's holdings in Elevance Health were worth $14,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Milestone Asset Management LLC increased its position in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after buying an additional 24 shares in the last quarter. GLOBALT Investments LLC GA grew its position in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc boosted its position in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Finally, Hemington Wealth Management raised its stake in Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after buying an additional 27 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group lowered their price target on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Truist Financial dropped their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley cut 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. Robert W. Baird decreased their price objective on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $411.06.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan D. Devore bought 1,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Elevance Health stock traded down $1.87 during midday trading on Friday, reaching $313.90. The stock had a trading volume of 3,015,351 shares, compared to its average volume of 1,942,901. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $70.68 billion, a PE ratio of 13.36, a P/E/G ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $542.22. The firm's 50-day moving average price is $303.03 and its 200 day moving average price is $367.63.

Elevance Health (NYSE:ELV - Get Free Report) last issued 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 business had revenue of $49.42 billion for 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 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 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. 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.