JB Capital LLC Purchases 220 Shares of Elevance Health, Inc. (NYSE:ELV)

JB Capital LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 19.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,346 shares of the company’s stock after buying an additional 220 shares during the period. JB Capital LLC’s holdings in Elevance Health were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Principal Financial Group Inc. lifted its stake in shares of Elevance Health by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock valued at $141,777,000 after purchasing an additional 11,646 shares during the period. Malaga Cove Capital LLC lifted its stake in Elevance Health by 0.6% in the third quarter. Malaga Cove Capital LLC now owns 4,831 shares of the company’s stock valued at $2,512,000 after buying an additional 28 shares during the period. Financial Enhancement Group LLC boosted its holdings in shares of Elevance Health by 22.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 834 shares of the company’s stock worth $434,000 after buying an additional 152 shares in the last quarter. Graypoint LLC grew its position in shares of Elevance Health by 10.3% during the 3rd quarter. Graypoint LLC now owns 2,731 shares of the company’s stock worth $1,420,000 after buying an additional 256 shares during the period. Finally, Forte Capital LLC ADV increased its stake in shares of Elevance Health by 46.0% in the 3rd quarter. Forte Capital LLC ADV now owns 663 shares of the company’s stock valued at $345,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling 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 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 of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ELV shares. Wells Fargo & Company decreased their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $1.03 during trading hours on Thursday, hitting $429.96. 215,222 shares of the company’s stock traded hands, compared to its average volume of 1,136,512. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a fifty day simple moving average of $494.37 and a 200-day simple moving average of $519.32.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for 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%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $8.99 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 32.93 EPS 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 paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.52%. 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.