PBMares Wealth Management LLC Grows Holdings in Elevance Health, Inc. $ELV

PBMares Wealth Management LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858 shares of the company’s stock after buying an additional 96 shares during the period. PBMares Wealth Management LLC’s holdings in Elevance Health were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Milestone Asset Management LLC increased its stake in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after acquiring an additional 24 shares in the last quarter. GLOBALT Investments LLC GA increased its stake in shares of Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc increased its stake in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Hemington Wealth Management increased its stake in shares of Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $322.89 on Wednesday. The company has a 50 day moving average price of $304.83 and a 200-day moving average price of $363.10. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $524.68. The firm has a market capitalization of $72.71 billion, a PE ratio of 13.74, a P/E/G ratio of 1.17 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.12 earnings per share. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Truist Financial reduced their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. Guggenheim reduced their price objective on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% 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.