Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC increased their holdings in Elevance Health, Inc. by 14.7% during the first quarter, owning 16,500 shares valued at approximately $7.2 million.
• Elevance Health reported a miss in earnings for the last quarter, with an EPS of $8.84, falling short of the expected $9.30, while revenue grew by 14.3% year-over-year.
• The company plans to pay a quarterly dividend of $1.71 per share on September 25th, representing an annualized yield of 2.33% based on its current share price.

Private Advisory Group LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,500 shares of the company's stock after purchasing an additional 2,114 shares during the quarter. Private Advisory Group LLC's holdings in Elevance Health were worth $7,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. Price T Rowe Associates Inc. MD boosted its holdings in shares of Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after purchasing an additional 464,137 shares during the period. Geode Capital Management LLC raised its stake in shares of Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after acquiring an additional 115,971 shares during the period. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.7% in the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. Capital International Investors boosted its stake in shares of Elevance Health by 0.9% during the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock worth $1,431,559,000 after purchasing an additional 35,576 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Elevance Health by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,488,911 shares of the company's stock worth $918,159,000 after purchasing an additional 91,653 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $2.61 on Monday, reaching $277.27. 1,367,758 shares of the stock were exchanged, compared to its average volume of 1,935,213. The business has a 50 day moving average price of $349.86 and a two-hundred day moving average price of $389.08. The firm has a market capitalization of $62.44 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a twelve month low of $273.84 and a twelve month high of $567.26. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $10.12 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed 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 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 29.11%.

Insider Buying and Selling

In other news, CEO Gail Boudreaux bought 8,500 shares of the business'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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELV. JPMorgan Chase & Co. cut their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Barclays reduced their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group reiterated a "buy" rating and issued a $484.00 price target (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Finally, Morgan Stanley lowered their price target on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $418.19.

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.