World Investment Advisors LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,028 shares of the company's stock, valued at approximately $8,855,000.
A number of other institutional investors also recently bought and sold shares of ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC acquired a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Strategic Financial Concepts LLC purchased a new position in Elevance Health during the 2nd quarter worth approximately $30,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter valued at approximately $31,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
ELV stock opened at $378.43 on Friday. The stock has a market capitalization of $87.77 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $377.97 and a 52 week high of $567.26. The firm has a 50-day simple moving average of $424.53 and a 200-day simple moving average of $495.40. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $8.99 EPS. Equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.
ELV has been the subject of a number of research reports. Argus downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Cantor Fitzgerald reduced their price target on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.
Read Our Latest Report on ELV
In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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 approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company's stock.
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.
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