5,081 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,081 shares of the company’s stock, valued at approximately $2,642,000.

Other hedge funds have also recently modified their holdings of the company. Bank & Trust Co bought a new stake in Elevance Health during the second quarter worth about $27,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the 2nd quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new position in Elevance Health during the third quarter valued at $31,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

Elevance Health stock opened at $402.55 on Monday. The business has a 50-day simple moving average of $460.70 and a two-hundred day simple moving average of $508.84. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week 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. The company has a market cap of $93.36 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) 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 business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $8.99 earnings per share. Analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were 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. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. Morgan Stanley cut 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. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

About Elevance Health

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.