Alpha DNA Investment Management LLC Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Alpha DNA Investment Management LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,010 shares of the company’s stock after purchasing an additional 232 shares during the period. Elevance Health makes up about 0.8% of Alpha DNA Investment Management LLC’s portfolio, making the stock its 20th biggest position. Alpha DNA Investment Management LLC’s holdings in Elevance Health were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. American Trust boosted its stake in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Private Ocean LLC raised its position in shares of Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its stake in shares of Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after purchasing an additional 23 shares during the last quarter. Cypress Wealth Services LLC boosted its position in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in Elevance Health by 4.2% in the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after purchasing an additional 24 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.3 %

Shares of ELV stock opened at $402.55 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The stock has a 50 day moving average of $460.70 and a 200 day moving average of $509.01. The stock has a market cap of $93.36 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the firm posted $8.99 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Elevance Health, Inc. will post 32.96 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. Stockholders 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 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald lowered their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price target 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. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.