Radnor Capital Management LLC Has $4.16 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Radnor Capital Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,990 shares of the company’s stock after purchasing an additional 330 shares during the quarter. Radnor Capital Management LLC’s holdings in Elevance Health were worth $4,155,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Catalina Capital Group LLC lifted its holdings in Elevance Health by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after purchasing an additional 27 shares during the last quarter. Balentine LLC increased its position in shares of Elevance Health by 261.0% in the third quarter. Balentine LLC now owns 2,083 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,506 shares during the period. HF Advisory Group LLC increased its position in shares of Elevance Health by 12.5% in the third quarter. HF Advisory Group LLC now owns 3,731 shares of the company’s stock worth $1,940,000 after purchasing an additional 415 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Elevance Health in the third quarter worth $274,000. Finally, River Road Asset Management LLC increased its position in shares of Elevance Health by 9.8% in the third quarter. River Road Asset Management LLC now owns 105,341 shares of the company’s stock worth $54,777,000 after purchasing an additional 9,400 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Price Performance

Elevance Health stock opened at $417.77 on Wednesday. The stock’s 50 day moving average is $496.81 and its 200 day moving average is $519.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $96.89 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during 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%. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.99 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.