Bokf Na Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Bokf Na lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 34.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,936 shares of the company’s stock after selling 5,699 shares during the period. Bokf Na’s holdings in Elevance Health were worth $5,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Richwood Investment Advisors LLC lifted its position in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after acquiring an additional 20 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in 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 purchasing an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC boosted 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 purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in shares of 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 buying an additional 20 shares in the last quarter. Finally, American Trust raised its position in shares of 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 buying an additional 20 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.4 %

Elevance Health stock opened at $545.78 on Friday. The company has a market capitalization of $126.85 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The firm has a 50 day moving average price of $534.70 and a 200 day moving average price of $527.40.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping 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 business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same period last year, the business posted $9.04 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Truist Financial lifted 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. TD Cowen dropped their price objective 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. Finally, Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $604.29.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The shares were 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 owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were 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 owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company insiders.

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.