499 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by BSW Wealth Partners

BSW Wealth Partners acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the third quarter, Holdings Channel reports. The fund acquired 499 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Iridian Asset Management LLC CT raised its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC raised its stake in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares in the last quarter. abrdn plc lifted its position in Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after purchasing an additional 87,717 shares during the period. Blair William & Co. IL grew its stake in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after buying an additional 6,610 shares in the last quarter. Finally, AMI Investment Management Inc. bought a new position in Elevance Health in the 3rd quarter valued at about $1,294,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELV. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. Bank of America reaffirmed a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Royal Bank of Canada lowered their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. Finally, TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Trading Up 2.0 %

Shares of NYSE ELV opened at $414.01 on Monday. The firm has a 50 day moving average price of $501.96 and a two-hundred day moving average price of $521.52. The stock has a market cap of $96.02 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. 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.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company 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 firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.99 earnings per share. As a group, equities analysts forecast that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. 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 payout ratio is 23.77%.

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.