Elevance Health, Inc. (NYSE:ELV) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 6.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,855 shares of the company’s stock after acquiring an additional 172 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Elevance Health were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Claro Advisors LLC acquired a new stake in Elevance Health during the fourth quarter valued at $223,000. Essex Savings Bank acquired a new stake in Elevance Health during the fourth quarter valued at $214,000. Country Club Bank GFN boosted its position in Elevance Health by 2.7% during the fourth quarter. Country Club Bank GFN now owns 1,147 shares of the company’s stock valued at $538,000 after purchasing an additional 30 shares during the last quarter. Colonial River Wealth Management LLC boosted its position in Elevance Health by 52.3% during the fourth quarter. Colonial River Wealth Management LLC now owns 786 shares of the company’s stock valued at $371,000 after purchasing an additional 270 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its position in Elevance Health by 78.3% during the fourth quarter. Independence Bank of Kentucky now owns 626 shares of the company’s stock valued at $295,000 after purchasing an additional 275 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on ELV. Wells Fargo & Company reduced their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research report on Tuesday, July 23rd. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. boosted their price target on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Mizuho boosted their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Trading Down 0.8 %

Shares of ELV opened at $532.01 on Thursday. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $555.35. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $123.37 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.19 and a beta of 0.84. The stock’s 50-day moving average price is $529.47 and its 200 day moving average price is $517.18.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the previous year, the company posted $9.04 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.