J. W. Coons Advisors LLC Has $770,000 Stake in Elevance Health, Inc. (NYSE:ELV)

J. W. Coons Advisors LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480 shares of the company’s stock after selling 50 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Elevance Health were worth $770,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ELV. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter worth approximately $27,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health in the 2nd quarter worth $30,000. Finally, Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth about $31,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $400.69 on Monday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a market cap of $92.93 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. The business’s 50 day moving average price is $475.29 and its two-hundred day moving average price is $513.44. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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

Elevance Health Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.63%. Elevance Health’s dividend payout ratio is currently 23.77%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. UBS Group reduced their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Cantor Fitzgerald lowered their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $539.20.

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.