Princeton Global Asset Management LLC Has $3.32 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Princeton Global Asset Management LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,387 shares of the company’s stock after selling 127 shares during the period. Princeton Global Asset Management LLC’s holdings in Elevance Health were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fullcircle Wealth LLC grew its stake in Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares during the period. Farther Finance Advisors LLC grew its stake in Elevance Health by 26.3% in the third quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock valued at $792,000 after acquiring an additional 317 shares during the period. Roanoke Asset Management Corp NY acquired a new position in Elevance Health in the third quarter valued at about $228,000. Principal Securities Inc. grew its stake in Elevance Health by 17.5% in the third quarter. Principal Securities Inc. now owns 15,899 shares of the company’s stock valued at $8,268,000 after acquiring an additional 2,369 shares during the period. Finally, Stephens Inc. AR grew its stake in Elevance Health by 3.8% in the third quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock valued at $10,856,000 after acquiring an additional 756 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

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 transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $414.01 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $501.96 and its two-hundred day moving average price is $521.43. The firm has a market capitalization of $96.02 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.22 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.57%. Elevance Health’s dividend payout ratio is 23.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) 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 assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $551.07.

About Elevance Health

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.