Elevance Health, Inc. $ELV Shares Sold by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd cut its stake in Elevance Health, Inc. (NYSE:ELV) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,677 shares of the company’s stock after selling 1,384 shares during the quarter. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Elevance Health were worth $4,516,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redwood Investment Management LLC acquired a new position in shares of Elevance Health during the second quarter valued at approximately $1,163,000. Proficio Capital Partners LLC purchased a new position in shares of Elevance Health in the second quarter valued at approximately $542,000. Pure Financial Advisors LLC boosted its stake in shares of Elevance Health by 6.5% in the second quarter. Pure Financial Advisors LLC now owns 2,625 shares of the company’s stock worth $1,015,000 after acquiring an additional 160 shares during the last quarter. Corient Private Wealth LP increased its position in shares of Elevance Health by 3.8% during the second quarter. Corient Private Wealth LP now owns 72,921 shares of the company’s stock worth $28,201,000 after purchasing an additional 2,703 shares in the last quarter. Finally, Permanens Capital L.P. increased its position in shares of Elevance Health by 5.6% during the second quarter. Permanens Capital L.P. now owns 1,562 shares of the company’s stock worth $604,000 after purchasing an additional 83 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

Elevance Health Trading Down 0.8%

ELV opened at $399.17 on Friday. The stock has a market capitalization of $86.57 billion, a PE ratio of 17.74, a P/E/G ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The business’s 50 day moving average price is $395.23 and its 200 day moving average price is $361.82.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the firm earned $8.84 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ELV shares. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a research report on Tuesday, July 7th. Morgan Stanley raised their price target on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

About Elevance Health

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.