Elevance Health, Inc. (NYSE:ELV) Shares Bought by Cromwell Holdings LLC

Cromwell Holdings LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 720 shares of the company’s stock after acquiring an additional 47 shares during the quarter. Cromwell Holdings LLC’s holdings in Elevance Health were worth $374,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in shares of 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 valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares in the last quarter. Blair William & Co. IL increased its position in shares of Elevance Health by 119.7% in 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 last quarter. AMI Investment Management Inc. acquired a new stake in shares of Elevance Health in the 3rd quarter valued at about $1,294,000. Finally, BDF Gestion bought a new position in shares of Elevance Health during the second quarter worth about $5,837,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald reduced their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Morgan Stanley lowered their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” 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 given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Elevance Health Stock Up 1.5 %

Elevance Health stock opened at $425.35 on Friday. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The stock has a market cap of $98.86 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.08 and a beta of 0.82. The company’s 50-day moving average price is $517.51 and its two-hundred day moving average price is $525.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $8.99 earnings per share. On average, analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

About Elevance Health

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.