Aptus Capital Advisors LLC Has $16.27 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Aptus Capital Advisors LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 1,133.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,293 shares of the company’s stock after buying an additional 28,756 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Elevance Health were worth $16,272,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. American Trust increased its position in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Private Ocean LLC lifted its holdings in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after purchasing an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. boosted its position in shares of Elevance Health by 1.9% during the second 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 last quarter. Cypress Wealth Services LLC grew its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after buying an additional 23 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company decreased their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Bank of America restated a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Price Performance

NYSE:ELV traded down $14.47 during trading hours on Tuesday, hitting $410.92. 498,585 shares of the stock traded hands, compared to its average volume of 1,147,142. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $486.59 and a 200 day moving average price of $516.91. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The company has a market cap of $95.30 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the firm earned $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared 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. This represents a $6.52 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 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.