Chesley Taft & Associates LLC Has $1.48 Million Holdings in Elevance Health, Inc. $ELV

Chesley Taft & Associates LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 3.1% in the second quarter, HoldingsChannel reports. The fund owned 3,804 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Elevance Health were worth $1,480,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ELV. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Elevance Health during the first quarter valued at approximately $29,000. Riverview Trust Co lifted its holdings in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. bought a new stake in Elevance Health during the first quarter worth $36,000. Finally, Orion Capital Management LLC bought a new stake in Elevance Health during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $308.19 on Thursday. The stock has a 50-day moving average price of $304.16 and a 200-day moving average price of $368.97. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $544.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $69.40 billion, a P/E ratio of 13.11, a PEG ratio of 1.14 and a beta of 0.59.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the company posted $10.12 earnings per share. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 33.96 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 Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s payout ratio is 29.11%.

Analyst Ratings Changes

A number of brokerages recently commented on ELV. Morgan Stanley dropped their price target on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Leerink Partners reiterated a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Finally, Barclays lifted their price target on Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $411.06.

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.