Elevance Health, Inc. (NYSE:ELV) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,506 shares of the company’s stock after purchasing an additional 135 shares during the quarter. IHT Wealth Management LLC’s holdings in Elevance Health were worth $780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in Elevance Health by 3.1% in the third quarter. Integrated Wealth Concepts LLC now owns 3,756 shares of the company’s stock valued at $1,953,000 after acquiring an additional 114 shares during the period. Investment Management Corp of Ontario lifted its holdings in Elevance Health by 11.4% in the third quarter. Investment Management Corp of Ontario now owns 24,441 shares of the company’s stock valued at $12,709,000 after acquiring an additional 2,500 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Elevance Health by 38.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 556,352 shares of the company’s stock valued at $289,303,000 after acquiring an additional 155,448 shares during the period. HighVista Strategies LLC acquired a new position in Elevance Health in the third quarter valued at approximately $1,300,000. Finally, Hilltop Holdings Inc. lifted its holdings in Elevance Health by 2,489.1% in the third quarter. Hilltop Holdings Inc. now owns 11,910 shares of the company’s stock valued at $6,193,000 after acquiring an additional 11,450 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 2.8 %

Shares of ELV opened at $382.14 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. Elevance Health, Inc. has a one year low of $379.29 and a one year high of $567.26. The stock has a market capitalization of $88.63 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.21 and a beta of 0.83. The stock has a 50 day moving average price of $437.06 and a 200 day moving average price of $500.74.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 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 firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.99 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced 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 1.71%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. UBS Group decreased their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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 the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

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.