Level Four Advisory Services LLC Purchases 5,187 Shares of Elevance Health, Inc. $ELV

Key Points

• Level Four Advisory Services LLC increased its stake in Elevance Health, Inc. by 48.0%, now holding shares valued at approximately $6.96 million.
• Elevance Health's recent quarterly earnings report showed earnings per share of $8.84, missing consensus estimates, along with revenues of $49.42 billion, exceeding expectations.
• The company announced a quarterly dividend of $1.71, with a payout ratio of 29.11% and a dividend yield of 2.2%.

Level Four Advisory Services LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 48.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,997 shares of the company's stock after purchasing an additional 5,187 shares during the quarter. Level Four Advisory Services LLC's holdings in Elevance Health were worth $6,959,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health during the 4th quarter valued at $25,000. Private Wealth Management Group LLC lifted its holdings in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Riverview Trust Co lifted its holdings in shares of Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after buying an additional 67 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Elevance Health during the first 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 and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELV. Leerink Partnrs downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners reissued a "market perform" rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Robert W. Baird dropped their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Barclays dropped their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $413.81.

Elevance Health Price Performance

Elevance Health stock traded up $6.2370 during midday trading on Friday, reaching $315.8370. The company's stock had a trading volume of 2,961,044 shares, compared to its average volume of 2,567,187. 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 $71.12 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.13 and a beta of 0.58. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $567.26. The business has a 50-day moving average price of $324.18 and a 200-day moving average price of $378.71.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.12 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current 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 paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health's payout ratio is presently 29.11%.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan D. Devore bought 1,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares of the company's stock, valued at approximately $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.

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.