OneDigital Investment Advisors LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

OneDigital Investment Advisors LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 15.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,028 shares of the company’s stock after purchasing an additional 941 shares during the period. OneDigital Investment Advisors LLC’s holdings in Elevance Health were worth $3,655,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Catalytic Wealth RIA LLC acquired a new stake in Elevance Health during the 1st quarter worth $291,000. Blair William & Co. IL boosted its stake in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after purchasing an additional 6,610 shares during the period. Edgestream Partners L.P. acquired a new stake in Elevance Health during the 1st quarter worth $698,000. Cynosure Group LLC acquired a new stake in Elevance Health during the 1st quarter worth $322,000. Finally, Covestor Ltd boosted its stake in Elevance Health by 14.1% during the 1st quarter. Covestor Ltd now owns 493 shares of the company’s stock worth $256,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ELV shares. Cantor Fitzgerald cut their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada cut their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $400.78 on Friday. The company has a market cap of $92.95 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. 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 company has a 50-day simple moving average of $478.13 and a 200-day simple moving average of $514.55.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $8.99 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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 issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.63%. Elevance Health’s payout ratio is 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred 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 $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

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.