Inspire Advisors LLC Has $662,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Inspire Advisors LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,521 shares of the company’s stock after selling 419 shares during the period. Inspire Advisors LLC’s holdings in Elevance Health were worth $662,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ELV. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the period. Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares during the period. North Capital Inc. acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $36,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $39,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $289.11 on Monday. The firm has a market capitalization of $65.10 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60. The firm has a fifty day simple moving average of $360.79 and a two-hundred day simple moving average of $392.71. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 12 month low of $274.40 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business 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 business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $10.12 EPS. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.37%. Elevance Health’s payout ratio is 29.11%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ELV shares. Argus restated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. JPMorgan Chase & Co. lowered their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $418.19.

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.