B. Riley Wealth Advisors Inc. Purchases 172 Shares of Elevance Health, Inc. (NYSE:ELV)

B. Riley Wealth Advisors Inc. grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,855 shares of the company’s stock after acquiring an additional 172 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Elevance Health were worth $1,480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Claro Advisors LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $223,000. Essex Savings Bank purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $214,000. Country Club Bank GFN boosted its position in shares of Elevance Health by 2.7% during the fourth quarter. Country Club Bank GFN now owns 1,147 shares of the company’s stock valued at $538,000 after buying an additional 30 shares during the last quarter. Colonial River Wealth Management LLC boosted its position in shares of Elevance Health by 52.3% during the fourth quarter. Colonial River Wealth Management LLC now owns 786 shares of the company’s stock valued at $371,000 after buying an additional 270 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its position in shares of Elevance Health by 78.3% during the fourth quarter. Independence Bank of Kentucky now owns 626 shares of the company’s stock valued at $295,000 after buying an additional 275 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $532.01 on Thursday. The firm has a market capitalization of $123.37 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.19 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $529.47 and its two-hundred day simple moving average is $517.18. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month 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. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the prior year, the company earned $9.04 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELV. Baird R W raised Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Jefferies Financial Group boosted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Truist Financial boosted their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target 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.