Apollon Financial LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Apollon Financial LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 583 shares of the company’s stock after acquiring an additional 38 shares during the period. Apollon Financial LLC’s holdings in Elevance Health were worth $303,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in shares of Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Capital International Investors boosted its holdings in shares of Elevance Health by 3.7% in the first 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 grew its position in shares of Elevance Health by 2.9% in 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 lifted its holdings in Elevance Health by 34.0% during the 2nd 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 in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Elevance Health by 15.5% in the 2nd 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 during the period. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Trading Up 0.7 %

NYSE ELV opened at $425.39 on Tuesday. The firm has a market capitalization of $98.66 billion, a PE ratio of 15.51, a P/E/G ratio of 1.26 and a beta of 0.85. The stock’s 50 day moving average is $486.59 and its 200 day moving average is $516.91. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. 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) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.99 earnings per share. Research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELV. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald cut their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.