Kathmere Capital Management LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Kathmere Capital Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 388 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently bought and sold shares of the company. Accretive Wealth Partners LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $209,000. Steward Partners Investment Advisory LLC increased its stake in shares of Elevance Health by 22.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,577 shares of the company’s stock worth $2,158,000 after purchasing an additional 840 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of Elevance Health during the 4th quarter valued at $237,000. APG Asset Management US Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at $14,611,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Elevance Health by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock worth $878,800,000 after purchasing an additional 110,462 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.7 %

ELV opened at $523.95 on Monday. The firm’s fifty day moving average price is $536.54 and its two-hundred day moving average price is $530.18. The company has a market capitalization of $121.78 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $9.04 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s payout ratio is 24.64%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ELV shares. TD Cowen reduced their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Truist Financial boosted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Morgan Stanley started coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Finally, Barclays decreased their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Buy” and an average price target of $604.29.

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.