Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Financial Enhancement Group LLC

Financial Enhancement Group LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 22.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 834 shares of the company’s stock after purchasing an additional 152 shares during the quarter. Financial Enhancement Group LLC’s holdings in Elevance Health were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Catalytic Wealth RIA LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at approximately $291,000. Norden Group LLC purchased a new position in shares of Elevance Health in the first quarter valued at approximately $227,000. Advisory Alpha LLC increased its stake in shares of Elevance Health by 68.1% during the first quarter. Advisory Alpha LLC now owns 955 shares of the company’s stock worth $495,000 after buying an additional 387 shares during the period. Manchester Capital Management LLC boosted its holdings in Elevance Health by 5.3% in the first quarter. Manchester Capital Management LLC now owns 875 shares of the company’s stock valued at $454,000 after purchasing an additional 44 shares in the last quarter. Finally, MGB Wealth Management LLC purchased a new stake in Elevance Health in the first quarter valued at approximately $377,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Morgan Stanley cut their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Trading Up 2.7 %

Elevance Health stock opened at $428.93 on Thursday. The company has a market cap of $99.48 billion, a P/E ratio of 15.64, a PEG 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 has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm’s 50-day moving average is $494.37 and its 200-day moving average is $519.32.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the firm posted $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 32.93 earnings per share 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 1.52%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Elevance Health Company 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.