Truvestments Capital LLC Acquires Shares of 172 Elevance Health, Inc. (NYSE:ELV)

Truvestments Capital LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 172 shares of the company’s stock, valued at approximately $90,000.

Several other large investors have also recently added to or reduced their stakes in the stock. American Trust increased its stake in Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the period. Private Ocean LLC increased its stake in Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. increased its stake in Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after buying an additional 23 shares during the period. Cypress Wealth Services LLC increased its stake in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after buying an additional 23 shares during the period. Finally, CVA Family Office LLC increased its stake in shares of Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock worth $326,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.4 %

Elevance Health stock opened at $401.80 on Wednesday. The company’s 50 day simple moving average is $454.96 and its 200 day simple moving average is $506.95. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The firm has a market capitalization of $93.19 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.20 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.

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 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 firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the business earned $8.99 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

ELV has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Cantor Fitzgerald dropped their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insider Buying and Selling at Elevance Health

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 shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

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.