Clear Rock Advisors LLC Has $2.31 Million Position in Elevance Health, Inc. (NYSE:ELV)

Clear Rock Advisors LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,459 shares of the company’s stock after buying an additional 109 shares during the period. Clear Rock Advisors LLC’s holdings in Elevance Health were worth $2,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Claro Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $223,000. Essex Savings Bank bought a new stake in Elevance Health during the fourth quarter worth $214,000. Country Club Bank GFN grew its position in shares of Elevance Health by 2.7% in the 4th quarter. Country Club Bank GFN now owns 1,147 shares of the company’s stock valued at $538,000 after acquiring an additional 30 shares during the period. Colonial River Wealth Management LLC increased its stake in shares of Elevance Health by 52.3% during the 4th quarter. Colonial River Wealth Management LLC now owns 786 shares of the company’s stock worth $371,000 after purchasing an additional 270 shares during the last quarter. Finally, Independence Bank of Kentucky increased its stake in shares of Elevance Health by 78.3% during the 4th quarter. Independence Bank of Kentucky now owns 626 shares of the company’s stock worth $295,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the 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 completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Tuesday, June 11th. Bank of America reissued a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird started coverage on shares of Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Finally, UBS Group upped their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Price Performance

Shares of ELV stock traded up $2.94 during trading hours on Friday, reaching $535.17. The company’s stock had a trading volume of 874,644 shares, compared to its average volume of 1,331,405. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $555.35. 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’s 50 day simple moving average is $529.51 and its 200-day simple moving average is $517.70. The company has a market capitalization of $124.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.18 and a beta of 0.84.

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

Elevance Health Announces Dividend

The company 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, September 10th. 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.