Stonehage Fleming Financial Services Holdings Ltd Buys Shares of 2,292 Elevance Health, Inc. $ELV

Key Points

• Stonehage Fleming Financial Services Holdings Ltd acquired 2,292 shares of Elevance Health, valued at approximately $891,000, as part of their investment strategy in the second quarter.
• Elevance Health reported $8.84 earnings per share for the last quarter, missing estimates, but had a revenue of $49.42 billion, exceeding expectations by $1.16 billion.
• The company announced a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 1.9% and a payout ratio of 29.11%.

Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,292 shares of the company's stock, valued at approximately $891,000.

Other large investors have also modified their holdings of the company. CWA Asset Management Group LLC purchased a new position in shares of Elevance Health during the first quarter valued at approximately $299,000. Dynamic Advisor Solutions LLC boosted its position in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after buying an additional 817 shares during the period. Focus Partners Wealth boosted its position in shares of Elevance Health by 4.6% during the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after buying an additional 982 shares during the period. Asio Capital LLC boosted its holdings in shares of Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company's stock valued at $5,979,000 after purchasing an additional 1,015 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of ELV opened at $353.29 on Friday. The business's 50-day moving average is $315.10 and its two-hundred day moving average is $358.68. The company has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.29 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, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.12 earnings per share. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction 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. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ELV shares. Wells Fargo & Company boosted their price target on Elevance Health from $330.00 to $412.00 and gave the company an "overweight" rating in a report on Tuesday. Weiss Ratings raised shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health 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. Finally, Bank of America upped their target price on Elevance Health from $330.00 to $370.00 and gave the company a "neutral" rating in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $412.00.

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.

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