Plato Investment Management Ltd Purchases 152 Shares of Elevance Health, Inc. (NYSE:ELV)

Plato Investment Management Ltd increased its position in Elevance Health, Inc. (NYSE:ELV) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,998 shares of the company’s stock after purchasing an additional 152 shares during the period. Plato Investment Management Ltd’s holdings in Elevance Health were worth $3,250,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Accretive Wealth Partners LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $209,000. Private Wealth Management Group LLC bought a new position in Elevance Health in the 4th quarter valued at about $41,000. Summit X LLC boosted its stake in Elevance Health by 23.1% during the 4th quarter. Summit X LLC now owns 672 shares of the company’s stock valued at $317,000 after purchasing an additional 126 shares during the last quarter. Independent Advisor Alliance increased its holdings in Elevance Health by 0.5% during the 4th quarter. Independent Advisor Alliance now owns 8,918 shares of the company’s stock worth $4,206,000 after purchasing an additional 40 shares in the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of Elevance Health by 5.1% in the fourth quarter. Manchester Capital Management LLC now owns 831 shares of the company’s stock worth $392,000 after purchasing an additional 40 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’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 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. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $550.84 on Friday. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year 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. The stock’s fifty day moving average price is $535.11 and its two-hundred day moving average price is $527.85. The firm has a market cap of $127.73 billion, a PE ratio of 20.82, a PEG ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $9.04 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley assumed 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 on the stock. TD Cowen reduced 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. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $604.29.

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.