Financial Enhancement Group LLC Acquires 152 Shares of Elevance Health, Inc. (NYSE:ELV)

Financial Enhancement Group LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 834 shares of the company’s stock after acquiring an additional 152 shares during the period. Financial Enhancement Group LLC’s holdings in Elevance Health were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ELV. Ameriprise Financial Inc. grew its holdings in Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after purchasing an additional 190,118 shares during the period. Capital International Investors raised its stake in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after acquiring an additional 123,802 shares during the period. Legal & General Group Plc lifted its holdings in Elevance Health by 2.9% during the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after purchasing an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Up 2.7 %

Shares of Elevance Health stock opened at $428.93 on Thursday. The company has a market cap of $99.48 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. 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 firm has a 50-day simple moving average of $494.37 and a two-hundred day simple moving average of $519.32.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 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 was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.99 EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America restated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.