Addison Advisors LLC Has $366,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Addison Advisors LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 675 shares of the company’s stock after acquiring an additional 50 shares during the period. Addison Advisors LLC’s holdings in Elevance Health were worth $366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank & Trust Co bought a new position in Elevance Health in the second quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health in the fourth quarter valued at $28,000. Palisade Asset Management LLC bought a new position in Elevance Health in the first quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the second quarter valued at $28,000. Finally, Beaird Harris Wealth Management LLC bought a new position in Elevance Health in the fourth quarter valued at $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred 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 directly owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 over the last quarter. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ELV shares. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Morgan Stanley started coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. TD Cowen decreased their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Up 0.2 %

Shares of ELV traded up $0.98 during trading hours on Friday, reaching $545.38. 90,639 shares of the stock traded hands, compared to its average volume of 1,012,993. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $533.77 and a 200 day simple moving average of $526.28. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The company has a market cap of $126.76 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.22 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate 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 net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.04 earnings per share. On average, equities analysts forecast that Elevance Health, Inc. will post 37.25 EPS 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 paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. Elevance Health’s payout ratio is 24.64%.

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.