LRI Investments LLC Sells 62 Shares of Elevance Health, Inc. $ELV

LRI Investments LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,607 shares of the company’s stock after selling 62 shares during the period. LRI Investments LLC’s holdings in Elevance Health were worth $625,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after acquiring an additional 666,534 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. Invesco Ltd. boosted its position in shares of Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Truist Financial dropped their price target on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Bank of America upped their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $412.00.

Elevance Health Trading Down 1.4%

NYSE:ELV opened at $353.29 on Friday. The company has a market cap of $79.55 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. 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 company has a 50 day simple moving average of $315.10 and a two-hundred day simple moving average of $358.68. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $510.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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 last year, the business earned $10.12 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio is presently 29.11%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.