Elevance Health, Inc. (NYSE:ELV) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 624 shares of the company’s stock after acquiring an additional 121 shares during the quarter. Larson Financial Group LLC’s holdings in Elevance Health were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sompo Asset Management Co. Ltd. boosted its holdings in Elevance Health by 7.6% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 1,830 shares of the company’s stock valued at $952,000 after purchasing an additional 130 shares in the last quarter. Truepoint Inc. lifted its holdings in shares of Elevance Health by 23.2% in the 3rd quarter. Truepoint Inc. now owns 987 shares of the company’s stock valued at $513,000 after buying an additional 186 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Elevance Health by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 17,251 shares of the company’s stock valued at $8,970,000 after buying an additional 650 shares in the last quarter. Cerity Partners LLC grew its holdings in Elevance Health by 19.8% during the third quarter. Cerity Partners LLC now owns 64,659 shares of the company’s stock worth $33,623,000 after acquiring an additional 10,678 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in Elevance Health during the third quarter worth $686,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $401.80 on Wednesday. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The company’s fifty day simple moving average is $454.96 and its 200-day simple moving average is $506.95. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $93.19 billion, a PE ratio of 14.65, a P/E/G ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted 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 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%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.99 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’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 transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ELV. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, UBS Group decreased their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus 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.