Eagle Global Advisors LLC Has $13.23 Million Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Eagle Global Advisors LLC reduced its stake in Elevance Health, Inc. by 36.1%, holding 34,012 shares valued at approximately $13.23 million at the end of the latest quarter.
• Elevance Health reported $8.84 earnings per share (EPS) for the last quarter, missing analysts' expectations by $0.46, while quarterly revenue increased by 14.3% year-over-year.
• The company recently declared a quarterly dividend of $1.71 per share, translating to an annualized yield of 2.2%, with a payout ratio of 29.11%.

Eagle Global Advisors LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,012 shares of the company's stock after selling 19,236 shares during the quarter. Eagle Global Advisors LLC's holdings in Elevance Health were worth $13,229,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Milestone Asset Management LLC increased its holdings in Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. GLOBALT Investments LLC GA increased its holdings in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after purchasing an additional 24 shares during the last quarter. Elser Financial Planning Inc increased its holdings in Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in 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 last quarter. Finally, Hemington Wealth Management increased its holdings in Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock valued at $100,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Up 0.5%

NYSE:ELV opened at $318.13 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 market cap of $71.64 billion, a PE ratio of 13.54, a PEG ratio of 1.16 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $528.52. The stock has a 50-day simple moving average of $303.14 and a 200 day simple moving average of $364.80.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a dividend of $1.71 per share. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Truist Financial dropped their price objective on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price objective on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Barclays upped their price objective on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Morgan Stanley lowered their price target on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Finally, Leerink Partners restated a "market perform" rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan D. Devore acquired 1,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company's stock, valued at $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 company insiders.

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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