Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its stake in Elevance Health, Inc. (NYSE:ELV) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,993 shares of the company’s stock after acquiring an additional 623 shares during the period. Amalgamated Bank’s holdings in Elevance Health were worth $24,956,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELV. Bank & Trust Co acquired a new stake in shares of Elevance Health in the second quarter worth approximately $27,000. PSI Advisors LLC purchased a new position in Elevance Health in the third quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC purchased a new position in Elevance Health in the second quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new position in Elevance Health in the third quarter valued at approximately $31,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.9 %

Shares of NYSE:ELV opened at $417.86 on Tuesday. The stock has a market capitalization of $96.91 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company’s fifty day moving average is $499.42 and its two-hundred day moving average is $520.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $8.99 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s dividend payout ratio is presently 23.77%.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group dropped their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $544.53.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

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.