Ashton Thomas Securities LLC Acquires New Stake in Elevance Health, Inc. $ELV

Ashton Thomas Securities LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, Holdings Channel reports. The firm bought 1,074 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health in the first quarter worth $299,000. Focus Partners Wealth grew its stake in Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Elevance Health by 11.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC raised its position in Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Asio Capital LLC boosted its stake in shares of Elevance Health by 7.1% in the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after buying an additional 1,015 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ELV shares. JPMorgan Chase & Co. cut their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Truist Financial dropped their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Guggenheim dropped their target price on Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Finally, UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Stock Up 3.2%

ELV stock opened at $351.11 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $79.06 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24. The company has a fifty day moving average of $307.98 and a 200-day moving average of $361.67.

Elevance Health (NYSE:ELV) last released its 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 during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $10.12 EPS. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 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.