Foundations Investment Advisors LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

Foundations Investment Advisors LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 15.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,137 shares of the company’s stock after acquiring an additional 3,893 shares during the period. Foundations Investment Advisors LLC’s holdings in Elevance Health were worth $15,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in Elevance Health by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock valued at $424,000 after buying an additional 155 shares during the period. International Assets Investment Management LLC boosted its position in Elevance Health by 12.0% during the first quarter. International Assets Investment Management LLC now owns 607 shares of the company’s stock valued at $313,000 after buying an additional 65 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $54,000. Riverview Trust Co purchased a new stake in shares of Elevance Health during the first quarter worth about $63,000. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Elevance Health by 38.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,169 shares of the company’s stock worth $3,199,000 after purchasing an additional 1,719 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 completion of the transaction, 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 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 this link. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $422.39 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a 50 day simple moving average of $524.68 and a two-hundred day simple moving average of $527.27. The company has a market capitalization of $98.17 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business posted $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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 dividend yield of 1.54%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is 24.64%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley initiated coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America reiterated a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $565.27.

Elevance Health 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.