Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Graypoint LLC

Graypoint LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,731 shares of the company’s stock after acquiring an additional 256 shares during the quarter. Graypoint LLC’s holdings in Elevance Health were worth $1,420,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank & Trust Co purchased a new stake in shares of Elevance Health in the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at about $28,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $31,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Elevance Health in the 1st quarter valued at about $40,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ELV. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday. Barclays reduced their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday. 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. Finally, Bank of America reaffirmed 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. One equities 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 given a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

NYSE ELV opened at $429.22 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $494.37 and its two-hundred day moving average is $519.32. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The stock has a market capitalization of $99.54 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.24 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its quarterly 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). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 EPS. Research analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Buying and Selling

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 sale, the executive vice president now owns 8,423 shares in the company, valued at $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 is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.