Bokf Na Sells 4,746 Shares of Elevance Health, Inc. (NYSE:ELV)

Bokf Na cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,635 shares of the company’s stock after selling 4,746 shares during the period. Bokf Na’s holdings in Elevance Health were worth $8,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Richwood Investment Advisors LLC increased its position in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after acquiring an additional 20 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. boosted its stake in Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the last quarter. Finally, HF Advisory Group LLC raised its holdings in shares of Elevance Health by 0.7% in the 1st quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock worth $1,547,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock traded up $13.47 on Friday, hitting $527.50. 1,434,091 shares of the stock traded hands, compared to its average volume of 1,250,510. The firm has a market cap of $122.32 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.17 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35. The firm has a 50 day simple moving average of $530.22 and a two-hundred day simple moving average of $516.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $42.99 billion. During the same period last year, the company posted $9.04 earnings per share. Elevance Health’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ELV shares. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Tuesday, June 11th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Truist Financial upped their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, July 23rd. Finally, Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Buy” and an average target price of $604.29.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.