Toth Financial Advisory Corp Has $2.78 Million Position in Elevance Health, Inc. $ELV

Key Points

• Toth Financial Advisory Corp increased its holdings in Elevance Health, Inc. by 44.3%, owning a total of 7,150 shares valued at approximately $2.78 million as of its latest SEC filing.
• Insider transactions revealed that Director Susan D. Devore and CEO Gail Boudreaux made significant stock purchases, increasing their ownership by 52.13% and 5.96% respectively.
• Elevance Health's recent quarterly earnings report showed a miss in EPS estimates, reporting $8.84 compared to expected $9.30, alongside a 14.3% year-over-year revenue growth of $49.42 billion.

Toth Financial Advisory Corp grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 44.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,150 shares of the company's stock after acquiring an additional 2,194 shares during the quarter. Toth Financial Advisory Corp's holdings in Elevance Health were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Tran Capital Management L.P. bought a new position in shares of Elevance Health during the second quarter worth about $14,320,000. Wedge Capital Management L L P NC bought a new stake in shares of Elevance Health during the 2nd quarter worth $30,223,000. Silver Oak Securities Incorporated raised its holdings in Elevance Health by 20.1% during the 2nd quarter. Silver Oak Securities Incorporated now owns 1,565 shares of the company's stock worth $609,000 after buying an additional 262 shares during the period. Professional Advisory Services Inc. lifted its position in shares of Elevance Health by 7.2% in the 2nd quarter. Professional Advisory Services Inc. now owns 75,184 shares of the company's stock valued at $29,244,000 after acquiring an additional 5,017 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Elevance Health by 35.3% in the second quarter. Diversified Trust Co now owns 36,209 shares of the company's stock worth $14,084,000 after buying an additional 9,454 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

NYSE:ELV traded up $6.05 on Tuesday, reaching $323.94. The stock had a trading volume of 1,230,248 shares, compared to its average volume of 1,980,195. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $72.95 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $534.74. The stock has a fifty day moving average price of $302.61 and a 200-day moving average price of $366.74.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results 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). The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business's revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $10.12 EPS. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

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 2.1%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Insider Buying and Selling

In other news, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was 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 owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim cut their price objective on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Truist Financial lowered their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group reduced their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a research report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.