Nisa Investment Advisors LLC Lowers Position in Elevance Health, Inc. $ELV

Nisa Investment Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 37.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 82,809 shares of the company’s stock after selling 49,575 shares during the period. Nisa Investment Advisors LLC’s holdings in Elevance Health were worth $32,209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Elevance Health by 129.2% during the first quarter. Golden State Wealth Management LLC now owns 463 shares of the company’s stock valued at $202,000 after acquiring an additional 261 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Elevance Health by 15.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company’s stock valued at $2,922,000 after acquiring an additional 913 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Elevance Health by 17.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 792 shares of the company’s stock worth $345,000 after purchasing an additional 116 shares in the last quarter. Finally, First Merchants Corp boosted its holdings in shares of Elevance Health by 21.0% during the 1st quarter. First Merchants Corp now owns 1,914 shares of the company’s stock valued at $833,000 after purchasing an additional 332 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America increased their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price for the company. Guggenheim lifted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. TD Cowen raised their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Leerink Partnrs cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $397.89.

Elevance Health Stock Down 1.1%

ELV stock opened at $342.45 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.44. The firm’s fifty day simple moving average is $327.09 and its 200-day simple moving average is $352.85. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market capitalization of $76.11 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter last year, the business posted $8.37 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.