Trajan Wealth LLC Invests $41.31 Million in Elevance Health, Inc. $ELV

Key Points

• Trajan Wealth LLC acquired 106,831 Elevance Health shares worth approximately $41.3 million in the second quarter, making ELV 1.6% of its portfolio. Institutional investors collectively own 89.24% of the company.
• Elevance Health beat quarterly expectations, reporting $7.45 EPS versus the $6.21 consensus and $49.83 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $440.90.
• The company declared a quarterly dividend of $1.72 per share, equivalent to $6.88 annually and a 1.7% yield; an insider separately sold 151 shares valued at about $60,667.

Trajan Wealth LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,831 shares of the company's stock, valued at approximately $41,315,000. Elevance Health comprises 1.6% of Trajan Wealth LLC's portfolio, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. WealthCollab LLC lifted its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Signet Financial Management LLC boosted its holdings in shares of Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company's stock valued at $245,000 after purchasing an additional 28 shares during the last quarter. Sapient Capital LLC grew its position in shares of Elevance Health by 1.2% during the first quarter. Sapient Capital LLC now owns 2,612 shares of the company's stock valued at $765,000 after purchasing an additional 31 shares in the last quarter. Mutual Advisors LLC grew its position in shares of Elevance Health by 1.4% during the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company's stock valued at $803,000 after purchasing an additional 32 shares in the last quarter. Finally, Waddell & Associates LLC increased its holdings in shares of Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company's stock worth $435,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.5%

ELV opened at $402.62 on Tuesday. The stock has a 50-day moving average of $394.79 and a 200 day moving average of $360.49. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The firm has a market cap of $87.32 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $8.84 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is presently 30.58%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore reiterated a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research note on Thursday, July 16th. Guggenheim upped their price objective on Elevance Health from $399.00 to $455.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Barclays decreased their price objective on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a report on Thursday, July 16th. Finally, Cantor Fitzgerald raised their target price on shares of Elevance Health from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $440.90.

About Elevance Health

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source