Consolidated Planning Corp Takes $444,000 Position in Elevance Health, Inc. (NYSE:ELV)

Consolidated Planning Corp acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 853 shares of the company’s stock, valued at approximately $444,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC raised its holdings in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after acquiring an additional 656,344 shares during the last quarter. International Assets Investment Management LLC increased its position in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. M&G Plc purchased a new position in Elevance Health in the 1st quarter valued at about $203,389,000. Finally, Maj Invest Holding A S acquired a new stake in shares of Elevance Health during the 2nd quarter worth about $173,753,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Morgan Stanley reduced 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 note on Wednesday, October 23rd. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

Elevance Health stock opened at $422.62 on Friday. The firm has a market capitalization of $98.01 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.24 and a beta of 0.85. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The stock’s 50 day moving average price is $489.22 and its 200 day moving average price is $517.94. 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 (NYSE:ELV) last posted its 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for 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 revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,423 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

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.