OLD Point Trust & Financial Services N A Boosts Stake in Elevance Health, Inc. $ELV

OLD Point Trust & Financial Services N A lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,707 shares of the company’s stock after purchasing an additional 140 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Elevance Health were worth $664,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Private Wealth Management Group LLC increased 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 worth $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $29,000. Riverview Trust Co increased 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 worth $31,000 after purchasing an additional 67 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $36,000. Finally, Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $322.89 on Wednesday. The firm has a market capitalization of $72.71 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.17 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $524.68. The stock has a fifty day moving average of $304.83 and a 200 day moving average of $363.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) 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). The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.12 EPS. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought 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 of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Robert W. Baird decreased their price target 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. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Guggenheim lowered their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Finally, Morgan Stanley cut their price target on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $411.06.

Elevance Health 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.