Unison Advisors LLC Acquires New Holdings in Elevance Health, Inc. (NYSE:ELV)

Unison Advisors LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,300 shares of the company's stock, valued at approximately $3,175,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at $25,000. Private Wealth Management Group LLC raised its holdings in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth about $29,000. Riverview Trust Co boosted its position in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares in the last quarter. Finally, North Capital Inc. bought a new position in shares of Elevance Health during the 1st quarter worth about $36,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Leerink Partners reissued a "market perform" rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. UBS Group reissued a "buy" rating and set a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Morgan Stanley cut 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 report on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Robert W. Baird dropped their price objective on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $418.19.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE ELV traded up $8.68 during trading hours on Friday, reaching $289.11. 4,807,740 shares of the company were exchanged, compared to its average volume of 2,861,243. Elevance Health, Inc. has a 1 year low of $274.40 and a 1 year high of $567.26. The business's 50 day simple moving average is $360.79 and its 200-day simple moving average is $392.58. 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 stock has a market capitalization of $65.10 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.03 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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). The company had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $10.12 EPS. On average, equities research analysts expect 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 will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.37%. Elevance Health's payout ratio is 29.11%.

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.