Semmax Financial Advisors Inc. Has $3.87 Million Position in Elevance Health, Inc. (NYSE:ELV)

Semmax Financial Advisors Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,441 shares of the company’s stock after acquiring an additional 388 shares during the period. Semmax Financial Advisors Inc.’s holdings in Elevance Health were worth $3,869,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Private Ocean LLC boosted its position in shares of Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after purchasing an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its position in shares of Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after buying an additional 23 shares during the period. Cypress Wealth Services LLC increased its stake in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the last quarter. CVA Family Office LLC increased its stake in shares of Elevance Health by 4.2% in the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after acquiring an additional 24 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its position in shares of Elevance Health by 4.4% in the 2nd quarter. FSM Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $308,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Cantor Fitzgerald decreased their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

Shares of ELV opened at $406.96 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 firm has a fifty day simple moving average of $446.87 and a 200 day simple moving average of $504.38. The stock has a market capitalization of $94.38 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last posted 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the company posted $8.99 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.