Geneos Wealth Management Inc. Purchases 940 Shares of Elevance Health, Inc. $ELV

Key Points

• Geneos Wealth Management Inc. increased its holdings in Elevance Health by 4.0%, acquiring an additional 940 shares in the first quarter, bringing their total to 24,262 shares valued at approximately $10.55 million.
• Several institutional investors also boosted their stakes in Elevance Health, with Vanguard Group and Orbis Allan Gray Ltd increasing their positions by 3.1% and 31.4%, respectively, in Q1.
• Elevance Health recently reported quarterly earnings of $8.84 per share, missing estimates, despite revenues of $49.42 billion, which exceeded analyst expectations, resulting in a 14.3% year-over-year revenue growth.

Geneos Wealth Management Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,262 shares of the company's stock after acquiring an additional 940 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Elevance Health were worth $10,553,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. IFM Investors Pty Ltd lifted its position in Elevance Health by 1.1% in the 1st quarter. IFM Investors Pty Ltd now owns 47,157 shares of the company's stock valued at $20,511,000 after acquiring an additional 524 shares in the last quarter. Focus Partners Wealth increased its stake in Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after buying an additional 982 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Elevance Health in the 1st quarter valued at about $522,000. Glenview Trust co increased its stake in Elevance Health by 10.2% in the 1st quarter. Glenview Trust co now owns 1,144 shares of the company's stock valued at $498,000 after buying an additional 106 shares during the last quarter. Finally, Aspen Investment Management Inc increased its stake in Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company's stock valued at $456,000 after buying an additional 27 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Elevance Health stock traded down $3.15 during mid-day trading on Friday, reaching $311.74. The company's stock had a trading volume of 1,503,234 shares, compared to its average volume of 2,082,560. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $559.95. The company has a market capitalization of $70.20 billion, a P/E ratio of 13.27, a PEG ratio of 1.15 and a beta of 0.59. 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 fifty day moving average price is $306.50 and its two-hundred day moving average price is $370.70.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share 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 analysts' expectations of $48.26 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. The firm's quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is currently 29.11%.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Robert W. Baird decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. UBS Group decreased their price objective on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a research note on Friday, September 5th. Finally, Truist Financial decreased their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $411.06.

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.