Tidal Investments LLC Acquires 3,956 Shares of Elevance Health, Inc. (NYSE:ELV)

Tidal Investments LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 60.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,485 shares of the company’s stock after purchasing an additional 3,956 shares during the period. Tidal Investments LLC’s holdings in Elevance Health were worth $5,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ORG Partners LLC increased its holdings in shares of Elevance Health by 643.8% in the 2nd quarter. ORG Partners LLC now owns 119 shares of the company’s stock valued at $64,000 after acquiring an additional 103 shares during the period. Oakworth Capital Inc. raised its holdings in Elevance Health by 207.3% in the second quarter. Oakworth Capital Inc. now owns 338 shares of the company’s stock worth $183,000 after purchasing an additional 228 shares in the last quarter. Raymond James & Associates lifted its position in shares of Elevance Health by 1.8% during the second quarter. Raymond James & Associates now owns 268,561 shares of the company’s stock valued at $145,522,000 after buying an additional 4,756 shares during the last quarter. KFG Wealth Management LLC boosted its holdings in shares of Elevance Health by 7.3% in the 2nd quarter. KFG Wealth Management LLC now owns 1,032 shares of the company’s stock valued at $559,000 after buying an additional 70 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its position in shares of Elevance Health by 17.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 3,785 shares of the company’s stock worth $2,051,000 after buying an additional 553 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Trading Up 0.8 %

Shares of NYSE:ELV opened at $381.38 on Friday. The company has a market capitalization of $88.45 billion, a PE ratio of 13.90, a PEG ratio of 1.15 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $375.29 and a 12-month high of $567.26. The business has a 50 day moving average of $422.32 and a two-hundred day moving average of $494.43. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last announced its quarterly 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 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 last year, the company posted $8.99 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. Elevance Health’s dividend payout ratio is presently 23.77%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen cut their price target 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 reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley decreased their price target 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. Barclays decreased their price objective 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. Finally, Stephens restated an “underperform” rating 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 given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price 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.