Elevance Health, Inc. $ELV Stock Position Cut by Burney Co.

Burney Co. lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 5.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,173 shares of the company’s stock after selling 346 shares during the period. Burney Co.’s holdings in Elevance Health were worth $2,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GLOBALT Investments LLC GA lifted its holdings in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after acquiring an additional 24 shares during the last quarter. Hemington Wealth Management lifted its holdings in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after acquiring an additional 27 shares during the last quarter. Aspen Investment Management Inc lifted its holdings in Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares during the last quarter. Prudent Man Advisors LLC lifted its holdings in Elevance Health by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock valued at $547,000 after acquiring an additional 28 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Elevance Health by 5.3% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after acquiring an additional 30 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE ELV opened at $313.10 on Tuesday. The company has a 50 day simple moving average of $329.04 and a 200-day simple moving average of $347.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $69.58 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.37 earnings per share. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ELV. Morgan Stanley upped their price target on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Mizuho set a $400.00 price target on shares of Elevance Health in a report on Monday. Robert W. Baird reduced 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, Bank of America upped their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $397.33.

Insider Activity

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.