Lifeworks Advisors LLC Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Lifeworks Advisors LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 1,037 shares of the company’s stock after acquiring an additional 25 shares during the period. Lifeworks Advisors LLC’s holdings in Elevance Health were worth $539,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $28,000. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $31,000. Finally, Crewe Advisors LLC acquired a new stake in Elevance Health in the 1st quarter valued at approximately $40,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Cantor Fitzgerald dropped their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a 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 note on Thursday, July 18th. Barclays dropped their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Finally, Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Price Performance

Shares of ELV opened at $407.04 on Friday. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a market cap of $94.40 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. 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 fifty day moving average price of $480.88 and a 200 day moving average price of $515.30.

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 business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.99 earnings per share. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.