Elevance Health, Inc. $ELV Shares Sold by Drucker Wealth 3.0 LLC

Key Points

• Drucker Wealth 3.0 LLC has reduced its stake in Elevance Health by 42.1%, selling 1,088 shares and now holding a total of 1,498 shares valued at approximately $583,000.
• Elevance Health reported a quarterly earnings miss with $8.84 earnings per share, falling short of the $9.30 consensus estimate, despite a revenue increase of 14.3% year-over-year.
• Analysts have lowered their price targets for Elevance Health, with JPMorgan setting a new target at $384.00, while the stock currently holds an average rating of "Moderate Buy" and an average price target of $412.00.

Drucker Wealth 3.0 LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 42.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,498 shares of the company's stock after selling 1,088 shares during the period. Drucker Wealth 3.0 LLC's holdings in Elevance Health were worth $583,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ELV. GAMMA Investing LLC raised its position in shares of Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in Elevance Health in the 1st quarter worth approximately $336,000. Fifth Third Bancorp grew its stake in Elevance Health by 2.5% in the 1st quarter. Fifth Third Bancorp now owns 16,607 shares of the company's stock worth $7,223,000 after acquiring an additional 409 shares during the period. Rockland Trust Co. grew its stake in Elevance Health by 46.7% in the 1st quarter. Rockland Trust Co. now owns 873 shares of the company's stock worth $380,000 after acquiring an additional 278 shares during the period. Finally, Relyea Zuckerberg Hanson LLC purchased a new stake in Elevance Health in the 1st quarter worth approximately $258,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.4%

Shares of NYSE ELV opened at $353.29 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The firm has a fifty day moving average of $315.10 and a 200-day moving average of $358.68. The stock has a market capitalization of $79.55 billion, a PE ratio of 15.03, a P/E/G ratio of 1.29 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's quarterly 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. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.9%. Elevance Health's payout ratio is presently 29.11%.

Analyst Ratings Changes

Several analysts have commented on ELV shares. JPMorgan Chase & Co. lowered 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. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Barclays lifted their target price on shares of Elevance Health from $373.00 to $395.00 and gave the stock an "overweight" rating in a research note on Thursday. Robert W. Baird lowered their target price on shares of 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, Mizuho lifted their target price on shares of Elevance Health from $342.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $412.00.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 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, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

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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