Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Continuum Advisory LLC

Continuum Advisory LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 597 shares of the company’s stock after buying an additional 59 shares during the period. Continuum Advisory LLC’s holdings in Elevance Health were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ELV. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Elevance Health by 2.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 70,451 shares of the company’s stock valued at $38,174,000 after acquiring an additional 1,409 shares in the last quarter. Milestone Asset Management LLC lifted its stake in shares of Elevance Health by 8.9% during the second quarter. Milestone Asset Management LLC now owns 782 shares of the company’s stock worth $424,000 after purchasing an additional 64 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Elevance Health by 17.1% in the second quarter. Apollon Wealth Management LLC now owns 3,785 shares of the company’s stock worth $2,051,000 after buying an additional 553 shares during the period. KFG Wealth Management LLC grew its stake in shares of Elevance Health by 7.3% in the second quarter. KFG Wealth Management LLC now owns 1,032 shares of the company’s stock valued at $559,000 after buying an additional 70 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Elevance Health by 1.8% during the 2nd quarter. Raymond James & Associates now owns 268,561 shares of the company’s stock valued at $145,522,000 after buying an additional 4,756 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV stock traded down $0.04 during trading hours on Tuesday, reaching $543.35. The stock had a trading volume of 30,436 shares, compared to its average volume of 1,036,840. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50-day simple moving average of $529.93 and a 200-day simple moving average of $522.31. The firm has a market capitalization of $126.28 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $555.35.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $42.99 billion. During the same quarter last year, the business earned $9.04 earnings per share. Elevance Health’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health 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 completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’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 transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Bank of America reaffirmed a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a report on Monday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Finally, Mizuho lifted their target price 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 investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Buy” and an average price target 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.