Captrust Financial Advisors Sells 18,623 Shares of Elevance Health, Inc. (NYSE:ELV)

Captrust Financial Advisors trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 32.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,136 shares of the company’s stock after selling 18,623 shares during the period. Captrust Financial Advisors’ holdings in Elevance Health were worth $19,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Elevance Health in the fourth quarter worth $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new stake in Elevance Health in the 4th quarter worth $467,141,000. Canoe Financial LP boosted its holdings in shares of Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at about $239,244,000. Finally, Focused Investors Fund L P bought a new stake in shares of Elevance Health in the first quarter worth about $249,884,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.2 %

Shares of NYSE:ELV opened at $536.26 on Wednesday. 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 business has a 50 day simple moving average of $529.79 and a two-hundred day simple moving average of $517.08. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $555.35. The firm has a market capitalization of $124.35 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.04 EPS. On average, equities analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s payout ratio is currently 24.64%.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen lowered their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Barclays reduced their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. One equities research 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. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Buy” and an average price target of $604.29.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated 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 $4,926,213.96. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Company 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.