Pure Financial Advisors LLC Acquires 776 Shares of Elevance Health, Inc. $ELV

Key Points

• Pure Financial Advisors LLC increased its holdings in Elevance Health, Inc. by 39.3%, acquiring an additional 776 shares and bringing total ownership to 2,749 shares, valued at approximately $1,069,000.
• Elevance Health recently reported a quarterly earnings miss with an EPS of $8.84, below the consensus estimate of $9.30, while revenue grew to $49.42 billion, exceeding expectations.
• The company declared a quarterly dividend of $1.71, amounting to an annualized yield of 2.0%, with a payout ratio of 29.11%.

Pure Financial Advisors LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 39.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,749 shares of the company's stock after buying an additional 776 shares during the period. Pure Financial Advisors LLC's holdings in Elevance Health were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Consolidated Planning Corp acquired a new position in shares of Elevance Health during the second quarter worth $235,000. Bartlett & CO. Wealth Management LLC increased its position in shares of Elevance Health by 1.1% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 4,559 shares of the company's stock worth $1,773,000 after purchasing an additional 48 shares in the last quarter. Impact Capital Partners LLC increased its position in shares of Elevance Health by 8.9% during the second quarter. Impact Capital Partners LLC now owns 1,048 shares of the company's stock worth $408,000 after purchasing an additional 86 shares in the last quarter. OLD Point Trust & Financial Services N A increased its position in shares of Elevance Health by 8.9% during the second quarter. OLD Point Trust & Financial Services N A now owns 1,707 shares of the company's stock worth $664,000 after purchasing an additional 140 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Elevance Health by 5.2% during the second quarter. PFG Investments LLC now owns 1,408 shares of the company's stock worth $548,000 after purchasing an additional 70 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE:ELV opened at $340.18 on Friday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $76.60 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.22 and a beta of 0.59. The firm's fifty day moving average is $306.74 and its two-hundred day moving average is $362.26.

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). 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 during the quarter, compared to analysts' expectations of $48.26 billion. During the same period in the previous year, the company posted $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction 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. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELV. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group reduced their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. Morgan Stanley dropped their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Wells Fargo & Company dropped their price objective 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, JPMorgan Chase & Co. dropped their price objective on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $411.06.

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.

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