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

Continuum Advisory LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 17.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 700 shares of the company’s stock after buying an additional 103 shares during the period. Continuum Advisory LLC’s holdings in Elevance Health were worth $364,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ELV. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter worth approximately $44,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Elevance Health by 46.2% during the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock valued at $49,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 1.4 %

Elevance Health stock opened at $389.98 on Wednesday. Elevance Health, Inc. has a one year low of $379.29 and a one year high of $567.26. The company’s fifty day moving average price is $431.73 and its two-hundred day moving average price is $497.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $90.44 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.14 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS 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 company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the company posted $8.99 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Analyst Ratings Changes

Several equities analysts have weighed in on ELV shares. Barclays lowered their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. 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. TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% 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.