Elevance Health, Inc. (NYSE:ELV) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management grew its position in Elevance Health, Inc. (NYSE:ELV) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,085 shares of the company’s stock after purchasing an additional 815 shares during the period. Smith Salley Wealth Management’s holdings in Elevance Health were worth $16,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Bank & Trust Co acquired a new position in shares of Elevance Health during the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the second quarter worth about $28,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health in the third quarter worth about $27,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health in the first quarter valued at about $28,000. Finally, Eastern Bank purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 1.5 %

NYSE:ELV opened at $425.27 on Friday. The firm has a market capitalization of $98.84 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $515.15 and a 200-day moving average of $524.62.

Elevance Health (NYSE:ELV) last issued its 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 20.64% and a net margin of 3.89%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELV. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $551.07.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’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 directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.