Executive Wealth Management LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Executive Wealth Management LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,963 shares of the company’s stock, valued at approximately $10,901,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter valued at $26,000. Continuum Advisory LLC boosted its stake in shares of Elevance Health by 17.3% in the 3rd quarter. Continuum Advisory LLC now owns 700 shares of the company’s stock valued at $364,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Elevance Health by 3.4% in the 3rd quarter. LRI Investments LLC now owns 1,661 shares of the company’s stock valued at $864,000 after purchasing an additional 55 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its stake in shares of Elevance Health by 3.3% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 4,384 shares of the company’s stock valued at $2,280,000 after purchasing an additional 139 shares during the last quarter. Finally, Hamilton Capital LLC lifted its position in shares of Elevance Health by 23.3% during the 3rd quarter. Hamilton Capital LLC now owns 514 shares of the company’s stock valued at $267,000 after acquiring an additional 97 shares during the period. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group cut their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Truist Financial reissued 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. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $395.60 on Tuesday. Elevance Health, Inc. has a 52-week low of $379.29 and a 52-week high of $567.26. The company has a 50-day simple moving average of $431.73 and a 200 day simple moving average of $497.93. 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 company has a market capitalization of $91.75 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during 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%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.99 EPS. On average, research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

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 paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.65%. Elevance Health’s payout ratio is 23.77%.

Elevance Health 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.