Elevance Health, Inc. (NYSE:ELV) Stake Reduced by Commerce Bank

Key Points

• Commerce Bank has reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.6%, now owning 182,961 shares valued at approximately $79.58 million.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health at an average price of $286.94 each, increasing her ownership by 5.96% to a total of 151,020 shares.
• Elevance Health plans to pay a quarterly dividend of $1.71 per share on September 25th, representing an annualized dividend yield of 2.4%.

Commerce Bank trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,961 shares of the company's stock after selling 6,877 shares during the quarter. Commerce Bank owned 0.08% of Elevance Health worth $79,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health in the fourth quarter worth approximately $25,000. Private Wealth Management Group LLC boosted its stake in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Riverview Trust Co boosted its stake in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares in the last quarter. North Capital Inc. acquired a new position in shares of Elevance Health in the 1st quarter worth $36,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $39,000. Institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction dated 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. 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 can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $283.04 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $274.40 and a one year high of $567.26. The business's 50-day moving average price is $351.82 and its two-hundred day moving average price is $389.87. The company has a market capitalization of $63.73 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results 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). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm 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 dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.4%. Elevance Health's dividend payout ratio is 29.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELV. JPMorgan Chase & Co. dropped their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Argus reissued a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Leerink Partners restated a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Leerink Partnrs downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lowered their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.