Souders Financial Advisors Buys 194 Shares of Elevance Health, Inc. (NYSE:ELV)

Souders Financial Advisors lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,138 shares of the company’s stock after purchasing an additional 194 shares during the quarter. Souders Financial Advisors’ holdings in Elevance Health were worth $1,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health during the 4th quarter valued at about $25,000. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter worth approximately $30,000. Finally, Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after buying an additional 67 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Leerink Partners reiterated a “market perform” rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Morgan Stanley cut their price objective on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a report on Friday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.93.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 8.5%

ELV opened at $276.87 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 1-year low of $276.41 and a 1-year high of $567.26. The company has a market capitalization of $62.55 billion, a PE ratio of 11.78, a PEG ratio of 0.81 and a beta of 0.60. The firm’s 50 day simple moving average is $371.52 and its two-hundred day simple moving average is $395.81.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.12 earnings per share. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.47%. Elevance Health’s dividend payout ratio is presently 29.11%.

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.