Signal Advisors Wealth LLC Has $1.01 Million Stake in Elevance Health, Inc. $ELV

Key Points

• Signal Advisors Wealth LLC increased its holdings in Elevance Health by 162.8% in the second quarter, acquiring an additional 1,610 shares for a total value of $1,011,000.
• Elevance Health's recent quarterly earnings reported $8.84 EPS, missing analysts' expectations, with revenues showing a 14.3% growth year-over-year at $49.42 billion.
• The company plans to pay a quarterly dividend of $1.71 per share on September 25th, which gives an annual yield of 2.2% and a payout ratio of 29.11%.

Signal Advisors Wealth LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 162.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,599 shares of the company's stock after buying an additional 1,610 shares during the quarter. Signal Advisors Wealth LLC's holdings in Elevance Health were worth $1,011,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ELV. Professional Financial Advisors LLC grew its holdings in Elevance Health by 1.7% during the second quarter. Professional Financial Advisors LLC now owns 3,840 shares of the company's stock valued at $1,494,000 after purchasing an additional 64 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after buying an additional 817 shares in the last quarter. Pines Wealth Management LLC lifted its stake in Elevance Health by 29.5% in the second quarter. Pines Wealth Management LLC now owns 694 shares of the company's stock valued at $270,000 after buying an additional 158 shares in the last quarter. Chesley Taft & Associates LLC lifted its stake in Elevance Health by 3.1% in the second quarter. Chesley Taft & Associates LLC now owns 3,804 shares of the company's stock valued at $1,480,000 after buying an additional 115 shares in the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in Elevance Health by 61.7% in the second quarter. Goelzer Investment Management Inc. now owns 1,332 shares of the company's stock valued at $518,000 after buying an additional 508 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Guggenheim cut their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Leerink Partners reissued a "market perform" rating and issued a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Truist Financial cut their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $411.06.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the 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 purchase, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV stock traded down $1.87 on Friday, hitting $313.90. The company's stock had a trading volume of 3,015,351 shares, compared to its average volume of 1,942,901. 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 stock's 50 day moving average is $303.03 and its 200-day moving average is $367.63. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $542.22. The company has a market capitalization of $70.68 billion, a PE ratio of 13.36, a PEG ratio of 1.15 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter last year, the company posted $10.12 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 yield of 2.2%. 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.