Elevance Health, Inc. (NYSE:ELV) Stock Position Lessened by Frisch Financial Group Inc.

Frisch Financial Group Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,843 shares of the company’s stock after selling 138 shares during the quarter. Frisch Financial Group Inc.’s holdings in Elevance Health were worth $999,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Richwood Investment Advisors LLC boosted its stake in Elevance Health by 0.8% during the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of 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 during the period. Capital Advisors Ltd. LLC boosted its position in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. boosted its position 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. Finally, American Trust lifted its stake in Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’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 sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on 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 sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. JPMorgan Chase & Co. increased their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, September 10th. Finally, Truist Financial raised their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Up 0.5 %

Shares of ELV stock opened at $553.50 on Tuesday. The stock’s 50 day simple moving average is $535.65 and its 200 day simple moving average is $528.39. 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 twelve month low of $431.38 and a twelve month high of $567.26. The company has a market capitalization of $128.64 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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. The business had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $9.04 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

About Elevance Health

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.