Dynamic Advisor Solutions LLC Purchases 817 Shares of Elevance Health, Inc. $ELV

Key Points

• Dynamic Advisor Solutions LLC increased its stake in Elevance Health by 11.3%, acquiring 817 additional shares, bringing its total holdings to 8,034 shares valued at approximately $3.1 million.
• CEO Gail Boudreaux purchased 8,500 shares at an average cost of $286.94 each, increasing her position by 5.96% to a total of 151,020 shares.
• The company also announced a quarterly dividend of $1.71 per share, reflecting an annualized yield of 2.2%, with the ex-dividend date set for September 10th.

Dynamic Advisor Solutions LLC boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,034 shares of the company's stock after purchasing an additional 817 shares during the period. Dynamic Advisor Solutions LLC's holdings in Elevance Health were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ELV. CWA Asset Management Group LLC bought a new position in shares of Elevance Health during the 1st quarter worth approximately $299,000. Focus Partners Wealth grew its position in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after purchasing an additional 982 shares during the period. GAMMA Investing LLC lifted its stake in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after buying an additional 1,588 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Elevance Health during the first quarter worth about $522,000. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $3,799,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company dropped their price objective on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Robert W. Baird dropped their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Leerink Partners restated a "market perform" rating and issued a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $411.06.

Elevance Health Price Performance

NYSE ELV traded down $1.87 on Friday, reaching $313.90. The company's stock had a trading volume of 3,015,351 shares, compared to its average volume of 1,987,175. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $542.22. 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's 50 day moving average is $303.55 and its two-hundred day moving average is $368.41. The stock has a market cap of $70.68 billion, a PE ratio of 13.36, a PEG ratio of 1.13 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results 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 during 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 business's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 earnings per share. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health's payout ratio is 29.11%.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan D. Devore bought 1,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director 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.

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.