Moss Adams Wealth Advisors LLC Buys Shares of 391 Elevance Health, Inc. (NYSE:ELV)

Moss Adams Wealth Advisors LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 391 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. M&G Plc acquired a new stake in Elevance Health in the 1st quarter worth about $203,389,000. Maj Invest Holding A S purchased a new stake in Elevance Health in the 2nd quarter valued at about $173,753,000. First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after acquiring an additional 275,708 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Elevance Health during the 1st quarter worth about $109,435,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 3.1 %

NYSE ELV opened at $430.77 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The business has a 50 day moving average price of $526.74 and a two-hundred day moving average price of $527.66. The stock has a market cap of $100.12 billion, a PE ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82.

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 the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the company posted $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

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 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 owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,170 shares of company stock worth $20,638,737. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday. Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $572.27.

Elevance Health Company 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.