Prime Capital Investment Advisors LLC Sells 281 Shares of Elevance Health, Inc. $ELV

Prime Capital Investment Advisors LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,203 shares of the company’s stock after selling 281 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Elevance Health were worth $468,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Eads & Heald Wealth Management bought a new stake in Elevance Health in the 2nd quarter valued at $327,000. Chung Wu Investment Group LLC bought a new position in shares of Elevance Health in the second quarter valued at about $148,000. Hunter Perkins Capital Management LLC raised its position in shares of Elevance Health by 24.0% in the second quarter. Hunter Perkins Capital Management LLC now owns 15,312 shares of the company’s stock valued at $5,956,000 after purchasing an additional 2,961 shares during the period. Sendero Wealth Management LLC raised its position in shares of Elevance Health by 3.4% in the second quarter. Sendero Wealth Management LLC now owns 1,842 shares of the company’s stock valued at $716,000 after purchasing an additional 61 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in Elevance Health by 62.7% in the 2nd quarter. Simplicity Wealth LLC now owns 5,566 shares of the company’s stock valued at $2,165,000 after acquiring an additional 2,144 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction 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. This trade represents a 5.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% 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 Price Performance

Elevance Health stock opened at $353.29 on Friday. The stock’s fifty day moving average price is $315.10 and its two-hundred day moving average price is $359.18. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $79.55 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.31 and a beta of 0.59.

Elevance Health (NYSE:ELV) last issued 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). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the business posted $10.12 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Mizuho increased their target price on Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday. Leerink Partners reiterated a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Guggenheim increased their price objective on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $412.00.

About Elevance Health

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.