Elevance Health, Inc. (NYSE:ELV) Shares Bought by Argent Trust Co

Key Points

• Argent Trust Co increased its holdings in Elevance Health by 36.9%, acquiring an additional 4,345 shares in the first quarter, bringing its total holdings to 16,119 shares valued at approximately $7 million.
• CEO Gail Boudreaux bought 8,500 shares of Elevance Health at an average price of $286.94, increasing her ownership to 151,020 shares worth around $43.3 million.
• Elevance Health's stock is currently down 3.2%, with a market capitalization of $61.72 billion and a recent quarterly earnings report showing revenue growth of 14.3% year-over-year.

Argent Trust Co grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,119 shares of the company's stock after acquiring an additional 4,345 shares during the period. Argent Trust Co's holdings in Elevance Health were worth $7,011,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ELV. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $25,000. Private Wealth Management Group LLC raised its position in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares during the period. Riverview Trust Co raised its position in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. acquired a new position in shares of Elevance Health in the first quarter worth about $36,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Down 3.2%

ELV stock opened at $274.10 on Friday. The company has a market cap of $61.72 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.01 and a beta of 0.58. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 12 month low of $273.84 and a 12 month high of $567.26. The firm has a 50-day moving average of $349.86 and a two-hundred day moving average of $389.05.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates 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 in the previous year, the company posted $10.12 EPS. The firm's revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. Elevance Health's dividend payout ratio is 29.11%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of analyst reports. Guggenheim decreased their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. UBS Group reissued a "buy" rating and set a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a research note on Monday, July 14th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Truist Financial reduced their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $418.19.

Elevance Health Company 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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