Bartlett & CO. Wealth Management LLC Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bartlett & CO. Wealth Management LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,584 shares of the company’s stock after buying an additional 60 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Elevance Health were worth $2,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its stake in shares of Elevance Health by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock worth $424,000 after buying an additional 155 shares during the period. Alaska Permanent Fund Corp lifted its position in Elevance Health by 950.8% during the 1st quarter. Alaska Permanent Fund Corp now owns 683 shares of the company’s stock worth $354,000 after acquiring an additional 618 shares during the period. &PARTNERS grew its stake in Elevance Health by 125.2% during the 1st quarter. &PARTNERS now owns 1,189 shares of the company’s stock valued at $617,000 after purchasing an additional 661 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Elevance Health by 12.0% in the first quarter. International Assets Investment Management LLC now owns 607 shares of the company’s stock valued at $313,000 after purchasing an additional 65 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of Elevance Health by 4.4% in the first quarter. Salem Investment Counselors Inc. now owns 1,369 shares of the company’s stock worth $710,000 after purchasing an additional 58 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ELV. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday. Finally, Royal Bank of Canada reduced their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $572.27.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on 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 sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated 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 directly owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,170 shares of company stock valued at $20,638,737 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $430.77 on Friday. The stock has a market capitalization of $100.12 billion, a P/E ratio of 16.28, a PEG ratio of 1.08 and a beta of 0.82. The business has a 50 day simple moving average of $526.74 and a two-hundred day simple moving average of $527.66. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month 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 posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the company posted $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.51%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.