Trust Co. of Toledo NA OH Invests $43,000 in Elevance Health, Inc. $ELV

Trust Co. of Toledo NA OH bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 110 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after acquiring an additional 666,534 shares during the period. Orbis Allan Gray Ltd lifted its position in shares of Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after acquiring an additional 324,040 shares during the period. Invesco Ltd. lifted its position in shares of Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Elevance Health by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after acquiring an additional 29,174 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. JPMorgan Chase & Co. dropped 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 report on Tuesday, July 22nd. Truist Financial dropped their target price 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. Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Morgan Stanley decreased their price target on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, Bank of America boosted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $412.00.

Elevance Health Stock Performance

Shares of ELV stock opened at $351.43 on Tuesday. The firm has a 50-day moving average of $316.63 and a 200-day moving average of $357.61. The company has a market cap of $79.14 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24.

Elevance Health (NYSE:ELV) last announced its earnings results 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.12 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio is currently 29.11%.

Insider Activity

In related news, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.