945 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Wealthquest Corp

Key Points

• Wealthquest Corp has acquired a new stake in Elevance Health, Inc., buying 945 shares valued at approximately $411,000 during the first quarter.
• CEO Gail Boudreaux increased her ownership by acquiring 8,500 shares for around $2.44 million, marking a 5.96% increase in her position.
• A recent earnings report revealed $8.84 EPS for Elevance Health, missing estimates, while the company announced a dividend of $1.71 per share, set to be paid on September 25th.

Wealthquest Corp acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 945 shares of the company's stock, valued at approximately $411,000.

Other institutional investors have also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC grew its stake in shares of 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 buying an additional 38 shares during the period. Riverview Trust Co grew its stake 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 valued at $31,000 after buying an additional 67 shares during the period. North Capital Inc. purchased a new stake in shares of Elevance Health during the 1st quarter valued at $36,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at $39,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Argus reissued a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Robert W. Baird lowered their price objective on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $418.19.

Elevance Health Stock Up 0.1%

NYSE ELV traded up $0.18 during mid-day trading on Monday, reaching $274.84. 3,365,515 shares of the company's stock traded hands, compared to its average volume of 1,941,590. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 1-year low of $273.84 and a 1-year high of $567.26. The company has a fifty day simple moving average of $349.86 and a 200-day simple moving average of $389.08. The company has a market cap of $61.89 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.01 and a beta of 0.58.

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 the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The business had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is 29.11%.

Insider Activity

In related news, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

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.