1,759 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by InvesTrust

InvesTrust acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,759 shares of the company’s stock, valued at approximately $649,000.

A number of other hedge funds have also made changes to their positions in the stock. Iridian Asset Management LLC CT boosted its holdings in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the period. International Assets Investment Management LLC lifted its holdings in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after acquiring an additional 50,603 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Elevance Health by 5.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after acquiring an additional 9,916 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Elevance Health by 60.6% during the third quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock valued at $5,452,000 after purchasing an additional 3,956 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV traded up $2.97 during midday trading on Wednesday, reaching $383.72. The stock had a trading volume of 678,834 shares, compared to its average volume of 1,244,507. The stock has a market capitalization of $88.99 billion, a P/E ratio of 13.99, a PEG ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm’s fifty day simple moving average is $393.06 and its 200-day simple moving average is $474.59.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the business earned $8.99 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of analyst reports. Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen reduced their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $536.53.

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.