Elevance Health, Inc. $ELV Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its stake in Elevance Health, Inc. (NYSE:ELV) by 56.4% in the second quarter, HoldingsChannel reports. The fund owned 3,021 shares of the company’s stock after purchasing an additional 1,089 shares during the period. Arkadios Wealth Advisors’ holdings in Elevance Health were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its position in shares of Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after buying an additional 790 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after buying an additional 817 shares in the last quarter. World Investment Advisors increased its position in shares of Elevance Health by 17.0% in the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after buying an additional 3,988 shares in the last quarter. Focus Partners Wealth increased its position in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after buying an additional 982 shares in the last quarter. Finally, Asio Capital LLC increased its position in shares of Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after buying an additional 1,015 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on ELV shares. Truist Financial set a $400.00 price objective on Elevance Health in a research report on Tuesday, October 14th. Bank of America boosted 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, October 10th. Guggenheim boosted their price target on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Leerink Partnrs cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, 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 research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $398.44.

Elevance Health Stock Down 1.5%

Shares of NYSE:ELV opened at $317.05 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $329.07 and a two-hundred day moving average of $348.54. The stock has a market cap of $70.46 billion, a P/E ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.37 EPS. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

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.