Signature Estate & Investment Advisors LLC Sells 3,683 Shares of Elevance Health, Inc. $ELV

Key Points

• Signature Estate & Investment Advisors LLC reduced its stake in Elevance Health, Inc. by 58.2%, selling 3,683 shares during the first quarter, resulting in holdings worth approximately $1.15 million.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health for about $2.44 million, increasing her ownership in the company significantly, while insider ownership accounts for only 0.29% of the stock.
• Analysts have varied views on the stock, with recent reports lowering price targets; the consensus rating remains a "Moderate Buy" with analysts expecting Elevance Health to post an EPS of 33.96 for the current year.

Signature Estate & Investment Advisors LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 58.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,648 shares of the company's stock after selling 3,683 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Elevance Health were worth $1,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Wealth Management Group LLC lifted its stake 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 acquiring an additional 38 shares during the period. WPG Advisers LLC bought a new position in shares of Elevance Health in the 1st quarter worth approximately $29,000. Riverview Trust Co lifted its stake in shares of Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares during the period. North Capital Inc. bought a new position in shares of Elevance Health in the 1st quarter worth approximately $36,000. Finally, Orion Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth approximately $39,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV traded down $3.15 during trading on Friday, reaching $311.74. 1,503,234 shares of the company traded hands, compared to its average volume of 2,082,560. 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, Inc. has a 12-month low of $273.71 and a 12-month high of $559.95. The firm has a fifty day simple moving average of $306.50 and a 200 day simple moving average of $370.70. The company has a market cap of $70.20 billion, a P/E ratio of 13.27, a PEG ratio of 1.15 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) 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 company had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same period last year, the business earned $10.12 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current 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 issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Truist Financial lowered their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Guggenheim lowered their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Barclays increased their target price on shares of Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $411.06.

Insider Buying and Selling

In other news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

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.