Foster & Motley Inc. sell 314 shares of Elevance Health, Inc. (NYSE:ELV)

VaselineSeptember 7, 2024

0 4 minutes read

Foster & Motley Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 18.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,428 shares of the company’s stock after selling 314 shares during the period. Holdings of Foster & Motley Inc. holdings in Elevance Health were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds have recently made changes to their positions in ELV. Norges Bank bought a new stake in shares of Elevance Health in the fourth quarter valued at $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new position in Elevance Health in the fourth quarter valued at approximately $467,141,000. Canoe Financial LP increased its position in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares in the last quarter . Morningstar Investment Services LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $239,244,000. Finally, Focused Investors Fund LP bought a new position in shares of Elevance Health in the first quarter worth about $249,884,000. 89.24% of shares are owned by institutional investors and hedge funds.

Elevance Health stock fell 0.3%

Shares of NYSE:ELV opened at $542.60 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49, and a current ratio of 1.49. Elevance Health, Inc. it has a 52-week low of $431.38 and a 52-week high of $567.26. The company’s 50-day simple moving average is $533.79, and its two-hundred-day simple moving average is $526.48. The firm has a market cap of $126.11 billion, a P/E ratio of 20.51, a PEG ratio of 1.22 and a beta of 0.84.

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Elevance Health (NYSE:ELV – Get Free Report ) last posted 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 company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. In the same period last year, the company earned $9.04 per share. Elevance Health’s revenue for the quarter was down 0.4% year-over-year. As a group, research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider buying and selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, Director Ramiro G. Peru sold 753 shares of the firm’s 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 transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, 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 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. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last quarter. Insiders own 0.35% of the company’s shares.

Analyst upgrades and downgrades

Several analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a report on Monday, August 19th. TD Cowen reduced their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Robert W. Baird initiated coverage on shares of Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their target price on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $604.29, based on data from MarketBeat.

Get the latest report on Elevance Health

Elevance Health Company Profile

(Free report)

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. Offers a variety of health plans and services to program members; health products; a range of fee-based managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability and supplemental health insurance benefits.