Syverson Strege & Co Invests $347,000 in Elevance Health, Inc. $ELV

Syverson Strege & Co purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, Holdings Channel reports. The fund purchased 893 shares of the company’s stock, valued at approximately $347,000.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Mather Group LLC. lifted its holdings in Elevance Health by 79.0% during the 1st quarter. Mather Group LLC. now owns 451 shares of the company’s stock valued at $196,000 after purchasing an additional 199 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Elevance Health by 17.1% during the 1st quarter. Vontobel Holding Ltd. now owns 7,212 shares of the company’s stock valued at $3,137,000 after purchasing an additional 1,052 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in Elevance Health during the 1st quarter valued at about $284,000. Pinnacle Financial Partners Inc lifted its holdings in Elevance Health by 1.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 2,932 shares of the company’s stock valued at $1,220,000 after purchasing an additional 45 shares during the last quarter. Finally, Novem Group lifted its holdings in Elevance Health by 44.3% during the 1st quarter. Novem Group now owns 1,586 shares of the company’s stock valued at $690,000 after purchasing an additional 487 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Leerink Partners reaffirmed a “market perform” rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Sanford C. Bernstein dropped their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.44.

Elevance Health Trading Down 1.5%

ELV opened at $317.05 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $70.46 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The firm has a 50 day simple moving average of $329.07 and a 200 day simple moving average of $349.16. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.37 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

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.