Lifeworks Advisors LLC Purchases 25 Shares of Elevance Health, Inc. (NYSE:ELV)

Lifeworks Advisors LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,037 shares of the company’s stock after acquiring an additional 25 shares during the period. Lifeworks Advisors LLC’s holdings in Elevance Health were worth $539,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Trust lifted its position in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares in the last quarter. Private Ocean LLC boosted its holdings in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after purchasing an additional 22 shares during the period. Hurlow Wealth Management Group Inc. boosted its holdings in shares of Elevance Health by 1.9% in the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC lifted its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after buying an additional 23 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Elevance Health by 4.2% during the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock worth $326,000 after buying an additional 24 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada decreased their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Truist Financial reiterated a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus 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 firm’s stock in a transaction dated 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 transaction, 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 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $407.04 on Friday. The business’s 50-day moving average is $480.88 and its two-hundred day moving average is $515.30. The company has a market capitalization of $94.40 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company 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 posted $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

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.