Securian Asset Management Inc. Sells 507 Shares of Elevance Health, Inc. $ELV

Securian Asset Management Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,813 shares of the company’s stock after selling 507 shares during the period. Securian Asset Management Inc.’s holdings in Elevance Health were worth $4,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC raised its stake in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares in the last quarter. Focus Partners Wealth raised its stake in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares in the last quarter. Asio Capital LLC raised its stake in Elevance Health by 7.1% in the second 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after buying an additional 1,588 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $350.77 on Wednesday. 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 stock’s fifty day moving average price is $324.38 and its 200 day moving average price is $354.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market cap of $78.99 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.29 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period in the prior year, the firm earned $8.37 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 29.11%.

Insider Activity

In other news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Elevance Health from $373.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Truist Financial set a $400.00 price target on Elevance Health in a research report on Tuesday, October 14th. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.06.

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.