Richwood Investment Advisors LLC Sells 160 Shares of Elevance Health, Inc. $ELV

Richwood Investment Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 7.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,857 shares of the company’s stock after selling 160 shares during the period. Richwood Investment Advisors LLC’s holdings in Elevance Health were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC raised its stake in 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 last quarter. WPG Advisers LLC purchased a new stake in Elevance Health during the first quarter valued at $29,000. North Capital Inc. purchased a new stake in Elevance Health during the first quarter valued at $36,000. Saudi Central Bank purchased a new position in Elevance Health in the first quarter worth about $40,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Leerink Partners reiterated a “market perform” rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Morgan Stanley reduced their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Robert W. Baird lowered their target price 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. Finally, Truist Financial cut their price target on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $411.06.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Trading Down 0.1%

Elevance Health stock opened at $350.08 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s 50 day moving average price is $309.26 and its 200-day moving average price is $360.14. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $510.24. The stock has a market cap of $78.83 billion, a P/E ratio of 14.90, a PEG ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during 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 firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.12 EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

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.