Elevance Health, Inc. $ELV Shares Sold by Oak Associates Ltd. OH

Oak Associates Ltd. OH decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 51.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,054 shares of the company’s stock after selling 2,210 shares during the period. Oak Associates Ltd. OH’s holdings in Elevance Health were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter worth approximately $32,000. ORG Partners LLC increased its position in Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $378.48 on Friday. The company has a market cap of $82.08 billion, a P/E ratio of 16.82, a PEG ratio of 2.24 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The business’s 50-day simple moving average is $399.00 and its 200 day simple moving average is $356.37.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $8.84 EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 27.08 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ELV shares. JPMorgan Chase & Co. lifted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Truist Financial increased their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Robert W. Baird lifted their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Cantor Fitzgerald boosted their price target on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reduced their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.