HM Payson & Co. Purchases 101 Shares of Elevance Health, Inc. (NYSE:ELV)

HM Payson & Co. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 16.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 730 shares of the company’s stock after purchasing an additional 101 shares during the period. HM Payson & Co.’s holdings in Elevance Health were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank & Trust Co bought a new position in shares of Elevance Health during the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the second quarter valued at approximately $28,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the third quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the first quarter worth $28,000. Finally, Eastern Bank acquired a new stake in shares of Elevance Health during the third quarter worth $31,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.0 %

Shares of ELV stock opened at $414.01 on Friday. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $96.02 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.22 and a beta of 0.82. The firm’s 50-day moving average is $501.96 and its 200-day moving average is $521.33.

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 analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed 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 1.57%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ELV shares. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Barclays cut their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $520.00 target price (down previously 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 given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.