Livelsberger Financial Advisory Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Livelsberger Financial Advisory acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 297 shares of the company’s stock, valued at approximately $155,000. Elevance Health comprises about 3.2% of Livelsberger Financial Advisory’s holdings, making the stock its 8th biggest position.

A number of other large investors also recently bought and sold shares of the company. Retirement Guys Formula LLC raised its position in Elevance Health by 8.3% during the 3rd quarter. Retirement Guys Formula LLC now owns 2,710 shares of the company’s stock worth $1,409,000 after buying an additional 208 shares during the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Elevance Health by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 57,925 shares of the company’s stock valued at $30,033,000 after purchasing an additional 2,471 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Elevance Health by 15.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 9,835 shares of the company’s stock valued at $5,114,000 after purchasing an additional 1,296 shares in the last quarter. Barden Capital Management Inc. increased its holdings in shares of Elevance Health by 2.4% in the 3rd quarter. Barden Capital Management Inc. now owns 4,251 shares of the company’s stock valued at $2,211,000 after purchasing an additional 98 shares in the last quarter. Finally, Vest Financial LLC increased its holdings in shares of Elevance Health by 23.9% in the 3rd quarter. Vest Financial LLC now owns 51,779 shares of the company’s stock valued at $26,925,000 after purchasing an additional 9,979 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’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 value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 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 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.

Elevance Health Trading Down 1.4 %

Shares of Elevance Health stock traded down $6.04 during mid-day trading on Monday, hitting $424.73. 997,900 shares of the stock were exchanged, compared to its average volume of 1,078,164. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The stock has a market capitalization of $98.71 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a 50-day simple moving average of $526.74 and a 200 day simple moving average of $527.81. 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 released 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). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. 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 prior year, the business earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.54%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ELV. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday. Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays increased their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $565.27.

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.