Apella Capital LLC Has $1.02 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Apella Capital LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 43.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,928 shares of the company’s stock after purchasing an additional 587 shares during the period. Apella Capital LLC’s holdings in Elevance Health were worth $1,020,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ELV. abrdn plc raised its position in Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after acquiring an additional 9,199 shares during the period. Canoe Financial LP boosted its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth about $218,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Elevance Health by 114.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.5 %

ELV traded down $2.54 during trading on Wednesday, reaching $521.14. 727,562 shares of the company’s stock were exchanged, compared to its average volume of 1,060,144. The company’s fifty day moving average price is $529.65 and its 200-day moving average price is $519.11. The firm has a market capitalization of $121.12 billion, a PE ratio of 19.70, a P/E/G ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $555.35. 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 announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the previous year, the firm earned $9.04 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 1.25%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELV. Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. UBS Group raised their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Tuesday, June 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Tuesday, July 23rd. One research 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’s stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and an average target price of $604.29.

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.