Elevance Health, Inc. $ELV Stock Position Trimmed by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its holdings in Elevance Health by 3.4%, now owning 39,932 shares valued at approximately $17.37 million as of their latest SEC filing.
• CEO Gail Boudreaux acquired 8,500 shares of Elevance Health, increasing her ownership by nearly 6% to a total of 151,020 shares worth approximately $43.33 million.
• Analyst consensus for Elevance Health is a "Moderate Buy" with an average target price set at $413.81, though some firms have adjusted their price estimates downward significantly.

HighTower Advisors LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,932 shares of the company's stock after selling 1,425 shares during the quarter. HighTower Advisors LLC's holdings in Elevance Health were worth $17,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its stake in shares of Elevance Health by 14.4% during the fourth quarter. CreativeOne Wealth LLC now owns 1,249 shares of the company's stock worth $461,000 after purchasing an additional 157 shares in the last quarter. United Capital Financial Advisors LLC raised its holdings in shares of Elevance Health by 103.0% during the 4th quarter. United Capital Financial Advisors LLC now owns 6,096 shares of the company's stock valued at $2,249,000 after buying an additional 206,621 shares during the period. Farringdon Capital Ltd. purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $310,000. Alpha DNA Investment Management LLC raised its stake in shares of Elevance Health by 16.1% during the fourth quarter. Alpha DNA Investment Management LLC now owns 4,655 shares of the company's stock valued at $1,717,000 after purchasing an additional 645 shares during the period. Finally, Capital International Sarl lifted its position in shares of Elevance Health by 32.8% during the fourth quarter. Capital International Sarl now owns 1,029 shares of the company's stock worth $380,000 after purchasing an additional 254 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction dated 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 completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Argus restated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. JPMorgan Chase & Co. dropped their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Leerink Partners reissued a "market perform" rating and issued a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $413.81.

Elevance Health Stock Performance

Shares of ELV stock traded up $1.6920 on Thursday, hitting $311.6920. 336,765 shares of the stock traded hands, compared to its average volume of 1,965,582. The company's fifty day moving average is $327.09 and its 200 day moving average is $379.97. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $567.26. The company has a market capitalization of $70.19 billion, a PE ratio of 13.26, a PEG ratio of 1.14 and a beta of 0.58. 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 (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share 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 for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

About Elevance Health

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.