Elevance Health, Inc. (NYSE:ELV) is SYSTM Wealth Solutions LLC’s 9th Largest Position

SYSTM Wealth Solutions LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 22.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,680 shares of the company’s stock after selling 4,053 shares during the period. Elevance Health makes up 1.7% of SYSTM Wealth Solutions LLC’s investment portfolio, making the stock its 9th largest holding. SYSTM Wealth Solutions LLC’s holdings in Elevance Health were worth $7,412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Elevance Health by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock valued at $1,011,888,000 after purchasing an additional 23,872 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of Elevance Health by 2.6% during the second quarter. Plato Investment Management Ltd now owns 5,998 shares of the company’s stock valued at $3,250,000 after purchasing an additional 152 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Elevance Health during the second quarter valued at approximately $3,669,000. Finally, Seven Mile Advisory increased its holdings in Elevance Health by 17.0% during the second quarter. Seven Mile Advisory now owns 640 shares of the company’s stock valued at $347,000 after buying an additional 93 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the 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 completion of the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the 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 completion of the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $17,033,320.00. Following the transaction, the chief executive officer now 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 over the last 90 days. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Barclays reduced their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Finally, Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $543.25 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a fifty day moving average price of $535.93 and a 200 day moving average price of $528.70. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The firm has a market cap of $126.26 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued 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 net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the prior year, the business earned $9.04 earnings per share. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

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.