Ignite Planners LLC Buys 153 Shares of Elevance Health, Inc. (NYSE:ELV)

Ignite Planners LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 19.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 925 shares of the company’s stock after acquiring an additional 153 shares during the period. Ignite Planners LLC’s holdings in Elevance Health were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Richwood Investment Advisors LLC boosted its position in Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. grew its position in Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares in the last quarter. Finally, American Trust increased its stake in Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Elevance Health stock traded up $5.55 during trading hours on Friday, hitting $532.07. The company had a trading volume of 664,153 shares, compared to its average volume of 1,054,622. The firm has a 50-day moving average of $530.21 and a 200 day moving average of $519.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $123.66 billion, a PE ratio of 20.11, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $555.35.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The company 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%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $9.04 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s payout ratio is presently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Robert W. Baird initiated coverage on Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective for the company. Truist Financial raised their price target on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group increased their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Stephens restated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a report on Tuesday, June 11th. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health 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.