Financial Counselors Inc. Has $1.02 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Financial Counselors Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,953 shares of the company’s stock after buying an additional 51 shares during the period. Financial Counselors Inc.’s holdings in Elevance Health were worth $1,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Bank & Trust Co acquired a new position in Elevance Health during the second quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth about $28,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter valued at about $27,000. Eastern Bank acquired a new position in Elevance Health in the third quarter valued at about $31,000. Finally, Peterson Financial Group Inc. bought a new stake in Elevance Health during the third quarter worth about $44,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of NYSE:ELV opened at $407.33 on Friday. The company has a 50 day moving average price of $446.87 and a two-hundred day moving average price of $504.59. 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 company has a market capitalization of $94.47 billion, a PE ratio of 14.85, a PEG ratio of 1.20 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.

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 the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $8.99 EPS. Analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced 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. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Cantor Fitzgerald cut their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Barclays decreased their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. 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. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Company 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.