Everhart Financial Group Inc. Purchases 171 Shares of Elevance Health, Inc. (NYSE:ELV)

Everhart Financial Group Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,290 shares of the company’s stock after purchasing an additional 171 shares during the quarter. Everhart Financial Group Inc.’s holdings in Elevance Health were worth $699,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Richwood Investment Advisors LLC grew its holdings in Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares during the period. Bell Investment Advisors Inc grew its stake 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 purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Elevance Health by 8.8% during the first 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 period. Bedel Financial Consulting Inc. increased its holdings in Elevance Health by 1.6% in the first 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 last quarter. Finally, American Trust boosted its holdings in Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.5 %

ELV stock traded up $2.64 during midday trading on Friday, hitting $545.96. The company’s stock had a trading volume of 423,734 shares, compared to its average volume of 1,030,129. The company’s fifty day moving average price is $530.61 and its 200 day moving average price is $523.32. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $555.35. 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 stock has a market capitalization of $126.89 billion, a P/E ratio of 20.63, a PEG ratio of 1.18 and a beta of 0.84.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.19%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ELV shares. Royal Bank of Canada upped their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. TD Cowen reduced their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Bank of America restated 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. Stephens reiterated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a report on Tuesday, June 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Monday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Buy” and an average price target of $604.29.

Insider Buying and Selling

In other Elevance Health news, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. Insiders own 0.35% of the company’s stock.

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.