PFM Health Sciences LP Purchases 1,191 Shares of Elevance Health, Inc. (NYSE:ELV)

PFM Health Sciences LP raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,441 shares of the company’s stock after acquiring an additional 1,191 shares during the quarter. Elevance Health comprises 1.7% of PFM Health Sciences LP’s investment portfolio, making the stock its 22nd biggest holding. PFM Health Sciences LP’s holdings in Elevance Health were worth $29,349,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. American Trust boosted its position in 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 acquiring an additional 20 shares during the last quarter. Private Ocean LLC boosted its position in shares of Elevance Health by 6.7% during the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $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 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 in the last quarter. Cypress Wealth Services LLC boosted its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after purchasing an additional 23 shares in the last quarter. Finally, CVA Family Office LLC boosted its position 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 in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $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 available at the SEC website. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ELV. UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley cut their price objective 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. Barclays cut their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Up 1.1 %

NYSE:ELV opened at $407.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $94.47 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The firm has a 50-day moving average price of $446.87 and a two-hundred day moving average price of $504.59.

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

Elevance Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.60%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Elevance Health Company 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.