Heritage Financial Services LLC Has $240,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Heritage Financial Services LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 442 shares of the company’s stock after selling 23 shares during the period. Heritage Financial Services LLC’s holdings in Elevance Health were worth $240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank & Trust Co purchased a new stake in Elevance Health in the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth $28,000. Palisade Asset Management LLC bought a new position in shares of Elevance Health during the first quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at about $28,000. Finally, Register Financial Advisors LLC purchased a new position in Elevance Health during the first quarter worth about $32,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

NYSE:ELV traded up $0.98 during trading hours on Thursday, hitting $543.32. 545,015 shares of the company’s stock traded hands, compared to its average volume of 1,033,814. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35. The business’s fifty day simple moving average is $530.28 and its two-hundred day simple moving average is $522.79. 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 firm has a market cap of $126.28 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the firm posted $9.04 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Robert W. Baird assumed coverage on Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Royal Bank of Canada raised their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Barclays lowered their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Finally, Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. One 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’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly 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 is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on 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 directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by insiders.

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.