Crestwood Advisors Group LLC Acquires Shares of 527 Elevance Health, Inc. (NYSE:ELV)

Crestwood Advisors Group LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 527 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Catalytic Wealth RIA LLC acquired a new position in shares of Elevance Health during the first quarter worth approximately $291,000. Norden Group LLC bought a new position in Elevance Health in the 1st quarter valued at $227,000. Advisory Alpha LLC increased its stake in shares of Elevance Health by 68.1% in the 1st quarter. Advisory Alpha LLC now owns 955 shares of the company’s stock valued at $495,000 after buying an additional 387 shares during the period. Manchester Capital Management LLC increased its stake in shares of Elevance Health by 5.3% in the 1st quarter. Manchester Capital Management LLC now owns 875 shares of the company’s stock valued at $454,000 after buying an additional 44 shares during the period. Finally, MGB Wealth Management LLC bought a new stake in shares of Elevance Health during the first quarter worth $377,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ELV. UBS Group lowered their price objective 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. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Price Performance

NYSE ELV opened at $428.93 on Thursday. 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 stock has a market cap of $99.48 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.85. The business has a 50 day simple moving average of $494.37 and a 200 day simple moving average of $519.32. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.99 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. Elevance Health’s payout ratio is presently 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

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.