Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 767 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Cynosure Group LLC’s holdings in Elevance Health were worth $399,000 at the end of the most recent quarter.

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

Insider Transactions at Elevance Health

In other 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 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. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ELV shares. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Price Performance

Shares of NYSE ELV opened at $402.80 on Thursday. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The firm has a market capitalization of $93.42 billion, a PE ratio of 14.68, a P/E/G ratio of 1.21 and a beta of 0.85. 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 business’s fifty day moving average price is $452.22 and its two-hundred day moving average price is $506.22.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is presently 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.