Stanley Laman Group Ltd. Has $4.24 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,826 shares of the company’s stock after buying an additional 357 shares during the period. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $4,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ELV. Richwood Investment Advisors LLC grew its holdings in Elevance Health by 0.8% during the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc increased its position in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after buying an additional 20 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares in the last quarter. Finally, American Trust grew its stake in Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health Stock Up 0.4 %

ELV traded up $1.98 during trading on Friday, reaching $543.70. 910,167 shares of the stock were exchanged, compared to its average volume of 1,044,202. The stock has a market cap of $126.37 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50 day moving average price is $529.79 and its two-hundred day moving average price is $521.57. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $555.35.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Tuesday, July 23rd. TD Cowen reduced their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Robert W. Baird started coverage on Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price for the company. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company reduced their price objective 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. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $604.29.

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.