Oxbow Advisors LLC Reduces Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Oxbow Advisors LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 10,372 shares of the company’s stock after selling 166 shares during the quarter. Oxbow Advisors LLC’s holdings in Elevance Health were worth $5,620,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the 1st quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Elevance Health in the 4th quarter worth approximately $28,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $32,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.5 %

Shares of ELV traded down $2.49 on Friday, hitting $541.91. 1,059,242 shares of the stock traded hands, compared to its average volume of 1,017,658. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a market capitalization of $125.95 billion, a PE ratio of 20.48, a P/E/G ratio of 1.22 and a beta of 0.84. The business has a 50 day simple moving average of $533.79 and a 200 day simple moving average of $526.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $9.04 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research note on Monday, August 19th. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Robert W. Baird assumed coverage on shares of Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average price target of $604.29.

Insider Activity

In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is currently owned by insiders.

Elevance Health 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.