Fidelity D & D Bancorp Inc. Buys New Shares in Elevance Health, Inc. (NYSE:ELV)

Fidelity D & D Bancorp Inc. purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 371 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds also recently bought and sold shares of ELV. Bank & Trust Co purchased a new stake in shares of Elevance Health during the second quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health in the 1st quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at $28,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the 1st quarter worth $32,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

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

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $542.60 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $126.11 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.22 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The firm has a fifty day moving average price of $533.79 and a 200 day moving average price of $526.48.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during 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 business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.04 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ELV. Royal Bank of Canada increased their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Monday, August 19th. Robert W. Baird initiated coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. Stephens restated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Thursday. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fourteen have given 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 target price of $604.29.

Elevance Health 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.