PharVision Advisers LLC Purchases New Holdings in Elevance Health, Inc. $ELV

Key Points

• PharVision Advisers LLC invested $369,000 in Elevance Health, purchasing 849 shares, marking the firm's interest in the company amid increasing institutional investment activity.
• Elevance Health reported profits of $8.84 EPS for the last quarter, which fell short of the expected $9.30, despite a revenue increase to $49.42 billion.
• The company recently announced a quarterly dividend of $1.71 per share, indicating a 2.2% yield and a payout ratio of 29.11%.

PharVision Advisers LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 849 shares of the company's stock, valued at approximately $369,000.

Several other large investors have also added to or reduced their stakes in the business. Milestone Asset Management LLC grew its holdings in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the period. GLOBALT Investments LLC GA increased its stake in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after acquiring an additional 24 shares during the last quarter. Elser Financial Planning Inc lifted its position in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after buying an additional 27 shares during the period. Finally, Hemington Wealth Management raised its position in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

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

Elevance Health Stock Up 2.4%

Shares of ELV stock traded up $7.29 during mid-day trading on Tuesday, reaching $315.45. 1,885,585 shares of the company were exchanged, compared to its average volume of 2,027,729. The business's 50 day simple moving average is $310.41 and its 200 day simple moving average is $372.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $559.95. The company has a market capitalization of $71.03 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.13 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.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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). 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 period last year, the firm posted $10.12 EPS. The business's quarterly revenue was up 14.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share 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 given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ELV shares. JPMorgan Chase & Co. reduced their price objective on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Truist Financial cut their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Barclays lifted their price target on shares of Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research note 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 equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.