Lmcg Investments LLC Cuts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Lmcg Investments LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,011 shares of the company’s stock after selling 22 shares during the period. Lmcg Investments LLC’s holdings in Elevance Health were worth $10,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Accretive Wealth Partners LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $209,000. ING Groep NV bought a new stake in Elevance Health in the 4th quarter worth $1,119,000. PNC Financial Services Group Inc. increased its position in shares of Elevance Health by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 81,298 shares of the company’s stock valued at $38,337,000 after acquiring an additional 1,226 shares during the period. Gladstone Institutional Advisory LLC raised its stake in shares of Elevance Health by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,172 shares of the company’s stock valued at $553,000 after acquiring an additional 42 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Elevance Health by 0.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,471 shares of the company’s stock worth $1,637,000 after purchasing an additional 23 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.5 %

ELV stock opened at $553.50 on Tuesday. The stock has a market capitalization of $128.35 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The business has a fifty day moving average price of $535.65 and a 200-day moving average price of $528.39.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share 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%. Elevance Health’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.04 EPS. Equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.18%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Wells Fargo & Company decreased their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Tuesday, September 10th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Truist Financial raised their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Buy” and a consensus target price of $604.29.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,058 shares of company stock valued at $17,588,116. Company insiders own 0.35% 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.