Pacer Advisors Inc. Has $12.79 Million Position in Elevance Health, Inc. (NYSE:ELV)

Pacer Advisors Inc. grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 45.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,588 shares of the company’s stock after purchasing an additional 7,641 shares during the quarter. Pacer Advisors Inc.’s holdings in Elevance Health were worth $12,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the second quarter worth $28,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the third quarter worth $27,000. Eastern Bank acquired a new stake in Elevance Health in the third quarter valued at $31,000. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health during the 3rd quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were 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 directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $402.55 on Friday. The firm has a market cap of $93.36 billion, a P/E ratio of 14.68, a PEG ratio of 1.17 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week high of $567.26. The business’s 50 day simple moving average is $460.70 and its two-hundred day simple moving average is $509.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 business had revenue of $44.72 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $8.99 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid 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 currently 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Barclays decreased their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald dropped their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.