1,365 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the third quarter, HoldingsChannel reports. The fund acquired 1,365 shares of the company’s stock, valued at approximately $710,000.

Several other institutional investors also recently modified their holdings of the company. Erste Asset Management GmbH bought a new position in Elevance Health during the third quarter worth about $978,000. Timber Creek Capital Management LLC lifted its position in shares of Elevance Health by 1.6% in the third quarter. Timber Creek Capital Management LLC now owns 6,243 shares of the company’s stock valued at $3,246,000 after buying an additional 99 shares during the last quarter. Semmax Financial Advisors Inc. boosted its stake in shares of Elevance Health by 5.5% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 7,441 shares of the company’s stock worth $3,869,000 after acquiring an additional 388 shares during the period. Edgestream Partners L.P. bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $532,000. Finally, PFM Health Sciences LP increased its holdings in shares of Elevance Health by 2.2% during the 3rd quarter. PFM Health Sciences LP now owns 56,441 shares of the company’s stock worth $29,349,000 after acquiring an additional 1,191 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Elevance Health Trading Up 1.0 %

Shares of Elevance Health stock opened at $406.96 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The company has a market capitalization of $94.38 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.21 and a beta of 0.85. The firm’s 50-day moving average price is $446.87 and its two-hundred day moving average price is $504.13.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share 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 the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $8.99 EPS. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. Elevance Health’s payout ratio is 23.77%.

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Mizuho lowered their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average 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.