Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Graypoint LLC

Graypoint LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,731 shares of the company’s stock after acquiring an additional 256 shares during the period. Graypoint LLC’s holdings in Elevance Health were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Catalytic Wealth RIA LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $291,000. Norden Group LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $227,000. Envestnet Portfolio Solutions Inc. grew its holdings in Elevance Health by 12.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 31,289 shares of the company’s stock valued at $16,225,000 after purchasing an additional 3,524 shares during the period. SG Americas Securities LLC grew its holdings in Elevance Health by 264.7% in the first quarter. SG Americas Securities LLC now owns 32,584 shares of the company’s stock valued at $16,896,000 after purchasing an additional 23,649 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Elevance Health in the first quarter valued at approximately $822,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Bank of America restated a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Wells Fargo & Company decreased their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday. One research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Elevance Health Trading Up 0.1 %

Shares of NYSE ELV opened at $429.22 on Friday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $494.37 and a 200-day simple moving average of $519.32. The stock has a market capitalization of $99.54 billion, a PE ratio of 15.65, a PEG ratio of 1.24 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued 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 analyst estimates of $43.47 billion. During the same period in the previous year, the firm posted $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Elevance Health, Inc. will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.52%. Elevance Health’s payout ratio 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.