Heritage Wealth Advisors Sells 1,459 Shares of Elevance Health, Inc. (NYSE:ELV)

Key Points

• Heritage Wealth Advisors reduced its stake in Elevance Health by 34.3%, selling 1,459 shares during Q1, leaving them with 2,793 shares valued at approximately $1,215,000.
• Elevance Health reported $8.84 EPS for the most recent quarter, missing the consensus estimate by $0.46, despite a revenue of $49.42 billion, surpassing projections.
• The company will pay a quarterly dividend of $1.71 per share on September 25th, with a 2.4% yield based on an annualized dividend payout ratio of 29.11%.

Heritage Wealth Advisors lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,793 shares of the company's stock after selling 1,459 shares during the quarter. Heritage Wealth Advisors' holdings in Elevance Health were worth $1,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $25,000. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% during 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 last quarter. Riverview Trust Co grew its stake in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. North Capital Inc. bought a new stake in Elevance Health in the 1st quarter valued at $36,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter worth $39,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV stock opened at $283.04 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market cap of $63.73 billion, a PE ratio of 12.04, a P/E/G ratio of 1.08 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $274.40 and a 12 month high of $567.26. The company has a 50-day moving average price of $351.82 and a 200 day moving average price of $389.87.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $48.26 billion. During the same period last year, the company earned $10.12 EPS. The business's revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.4%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

ELV has been the subject of several research reports. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Truist Financial dropped their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Argus restated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Finally, UBS Group reissued a "buy" rating and issued a $484.00 target price (down from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.