Clarius Group LLC Has $552,000 Position in Elevance Health, Inc. $ELV

Clarius Group LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 40.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,418 shares of the company’s stock after selling 954 shares during the period. Clarius Group LLC’s holdings in Elevance Health were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in shares of Elevance Health during the first quarter worth approximately $299,000. Focus Partners Wealth lifted its holdings in Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC grew its holdings in Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after buying an additional 1,588 shares in the last quarter. Finally, Asio Capital LLC increased its position in Elevance Health by 7.1% during the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock worth $5,979,000 after buying an additional 1,015 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased 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 owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELV. JPMorgan Chase & Co. reduced their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Robert W. Baird reduced their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Argus reaffirmed a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Leerink Partners reissued a “market perform” rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Elevance Health Trading Up 3.2%

Shares of ELV stock opened at $351.11 on Monday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. The stock’s fifty day moving average price is $307.98 and its two-hundred day moving average price is $360.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $79.06 billion, a PE ratio of 14.94, a P/E/G ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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). 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 the consensus estimate of $48.26 billion. During the same quarter in the prior year, the company earned $10.12 earnings per share. Elevance Health’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio is presently 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.