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

Balentine LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 261.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,083 shares of the company’s stock after purchasing an additional 1,506 shares during the period. Balentine LLC’s holdings in Elevance Health were worth $1,083,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Bank & Trust Co purchased a new stake in Elevance Health during the 2nd quarter valued at approximately $27,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health in the 2nd quarter valued at $30,000. Finally, Eastern Bank purchased a new position in Elevance Health during the 3rd quarter worth $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.0 %

Shares of ELV opened at $417.77 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a market cap of $96.89 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. The firm has a 50 day simple moving average of $496.81 and a 200-day simple moving average of $519.96.

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 the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 EPS. Equities analysts forecast that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ELV shares. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Barclays dropped their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Finally, Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.