Perigon Wealth Management LLC Sells 2,570 Shares of Elevance Health, Inc. $ELV

Key Points

• Perigon Wealth Management LLC reduced its stake in Elevance Health by 63.3%, selling 2,570 shares and leaving them with 1,493 shares valued at approximately $581,000.
• In other transactions, Elevance Health's CEO Gail Boudreaux purchased 8,500 shares, increasing her ownership position by 5.96% to a total value of about $43.33 million.
• Analysts have set various price targets for Elevance Health, with UBS Group lowering its target from $435 to $425, while Royal Bank of Canada maintains a target of $478, indicating a consensus rating of "Moderate Buy."

Perigon Wealth Management LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 63.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,493 shares of the company's stock after selling 2,570 shares during the quarter. Perigon Wealth Management LLC's holdings in Elevance Health were worth $581,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new position in Elevance Health in the first quarter valued at approximately $29,000. Riverview Trust Co boosted its stake in Elevance Health by 1,340.0% in 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 during the last quarter. North Capital Inc. bought a new position in Elevance Health in the first quarter valued at approximately $36,000. Finally, Saudi Central Bank bought a new position in Elevance Health in the first quarter valued at approximately $40,000. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was purchased 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 owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Finally, Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Elevance Health Stock Up 0.3%

Elevance Health stock opened at $319.52 on Tuesday. The company has a market cap of $71.95 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $524.68. The company has a fifty day simple moving average of $304.00 and a 200 day simple moving average of $363.38. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

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 analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the business posted $10.12 EPS. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is 29.11%.

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.

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