438 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 438 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its stake in Elevance Health by 17.5% during the 3rd quarter. Principal Securities Inc. now owns 15,899 shares of the company’s stock valued at $8,268,000 after buying an additional 2,369 shares during the last quarter. Stephens Inc. AR raised its stake in Elevance Health by 3.8% during the 3rd quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock valued at $10,856,000 after buying an additional 756 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in Elevance Health by 7.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 8,505 shares of the company’s stock valued at $4,423,000 after buying an additional 607 shares during the last quarter. HM Payson & Co. raised its stake in Elevance Health by 16.1% during the 3rd quarter. HM Payson & Co. now owns 730 shares of the company’s stock valued at $380,000 after buying an additional 101 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its stake in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ELV shares. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada reduced their price objective 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 reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $551.07.

Elevance Health Stock Up 2.0 %

ELV opened at $414.01 on Friday. The firm has a 50-day simple moving average of $501.96 and a two-hundred day simple moving average of $521.33. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The company has a market capitalization of $96.02 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. 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 released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the company earned $8.99 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Activity at Elevance Health

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

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.