Sava Infond d.o.o. Has $5.02 Million Stake in Elevance Health, Inc. $ELV

Sava Infond d.o.o. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.7% in the second quarter, HoldingsChannel reports. The firm owned 12,900 shares of the company’s stock after acquiring an additional 700 shares during the period. Elevance Health makes up 0.8% of Sava Infond d.o.o.’s portfolio, making the stock its 26th biggest position. Sava Infond d.o.o.’s holdings in Elevance Health were worth $5,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. NBC Securities Inc. acquired a new stake in shares of Elevance Health in the 1st quarter valued at $90,000. Merit Financial Group LLC boosted its position in shares of Elevance Health by 87.0% in the 1st quarter. Merit Financial Group LLC now owns 6,393 shares of the company’s stock worth $2,781,000 after purchasing an additional 2,975 shares during the last quarter. RFG Advisory LLC boosted its position in shares of Elevance Health by 7.0% in the 1st quarter. RFG Advisory LLC now owns 1,945 shares of the company’s stock worth $846,000 after purchasing an additional 128 shares during the last quarter. Cypress Wealth Services LLC boosted its position in shares of Elevance Health by 21.7% in the 1st quarter. Cypress Wealth Services LLC now owns 969 shares of the company’s stock worth $421,000 after purchasing an additional 173 shares during the last quarter. Finally, Diligent Investors LLC bought a new position in shares of Elevance Health in the 1st quarter worth $236,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on ELV shares. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Wells Fargo & Company reduced their price target on Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. 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. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a research report on Saturday, September 27th. Finally, Argus reaffirmed a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $411.06.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the business’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 completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $351.11 on Friday. The business’s 50-day moving average price is $307.98 and its two-hundred day moving average price is $361.67. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market cap of $79.06 billion, a PE ratio of 14.94, a P/E/G ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $510.24.

Elevance Health (NYSE:ELV) last posted its earnings results 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). The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.12 earnings per share. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s payout ratio is 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.