EP Wealth Advisors LLC Has $1.02 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

EP Wealth Advisors LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,882 shares of the company’s stock after buying an additional 289 shares during the period. EP Wealth Advisors LLC’s holdings in Elevance Health were worth $1,020,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Bell Investment Advisors Inc raised its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares during the period. Capital Advisors Ltd. LLC increased its holdings 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 in the last quarter. Bedel Financial Consulting Inc. raised its stake in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the period. American Trust lifted its holdings 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 purchasing an additional 20 shares in the last quarter. Finally, Sage Rhino Capital LLC boosted its position in shares of Elevance Health by 4.6% during the first quarter. Sage Rhino Capital LLC now owns 474 shares of the company’s stock worth $246,000 after buying an additional 21 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial lifted their target price on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Royal Bank of Canada increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling at Elevance Health

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

Elevance Health Price Performance

Shares of NYSE ELV opened at $505.00 on Thursday. 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 business’s 50 day moving average price is $536.89 and its two-hundred day moving average price is $530.05. The company has a market cap of $117.37 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $431.55 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the prior year, the business earned $9.04 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $1.63 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

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.