Elevance Health, Inc. (NYSE:ELV) Stock Position Lifted by Unison Asset Management LLC

Unison Asset Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,069 shares of the company’s stock after acquiring an additional 173 shares during the quarter. Elevance Health makes up 6.6% of Unison Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Unison Asset Management LLC’s holdings in Elevance Health were worth $13,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in Elevance Health by 22.2% during the 4th quarter. Fisher Asset Management LLC now owns 909 shares of the company’s stock valued at $429,000 after purchasing an additional 165 shares during the period. Accretive Wealth Partners LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $209,000. Lincoln National Corp increased its stake in shares of Elevance Health by 15.2% during the fourth quarter. Lincoln National Corp now owns 3,725 shares of the company’s stock valued at $1,756,000 after buying an additional 492 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Elevance Health by 62.7% during the fourth quarter. Apollon Wealth Management LLC now owns 3,128 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,206 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Elevance Health by 6.4% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,635 shares of the company’s stock worth $771,000 after acquiring an additional 98 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

NYSE ELV traded down $9.11 during trading on Thursday, hitting $538.20. 106,401 shares of the stock traded hands, compared to its average volume of 1,013,879. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26. The firm has a 50-day simple moving average of $533.60 and a 200-day simple moving average of $526.15. The company has a market capitalization of $125.09 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 business had revenue of $43.22 billion during 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 quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley assumed coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Monday, August 19th. Finally, Wells Fargo & Company cut their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the 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 sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gail Boudreaux sold 34,000 shares of the company’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 completion of the transaction, 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. In the last quarter, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by 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.