Elevance Health, Inc. (NYSE:ELV) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,370 shares of the company’s stock after selling 1,681 shares during the quarter. Amalgamated Bank’s holdings in Elevance Health were worth $25,668,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Accretive Wealth Partners LLC acquired a new position in Elevance Health in the 4th quarter valued at about $209,000. ING Groep NV purchased a new stake in Elevance Health in the 4th quarter valued at about $1,119,000. PNC Financial Services Group Inc. grew its holdings in Elevance Health by 1.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 81,298 shares of the company’s stock valued at $38,337,000 after buying an additional 1,226 shares during the period. Gladstone Institutional Advisory LLC grew its holdings in Elevance Health by 3.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,172 shares of the company’s stock valued at $553,000 after buying an additional 42 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in Elevance Health by 0.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,471 shares of the company’s stock valued at $1,637,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. 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 the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Barclays decreased their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Truist Financial boosted their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Stephens reiterated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a report on Thursday, September 5th. Finally, Robert W. Baird initiated coverage on Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price for the company. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $604.29.

Elevance Health Stock Performance

ELV stock opened at $543.25 on Wednesday. The firm has a market cap of $126.26 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.19 and a beta of 0.82. The stock’s 50 day simple moving average is $535.93 and its 200 day simple moving average is $528.70. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $9.04 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared 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.