Narwhal Capital Management Has $478,000 Stock Position in Elevance Health, Inc. $ELV

Narwhal Capital Management cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 56.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,478 shares of the company’s stock after selling 1,897 shares during the period. Narwhal Capital Management’s holdings in Elevance Health were worth $478,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC grew its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Elevance Health in the second quarter valued at approximately $32,000. Motco boosted its stake in shares of Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the period. True Wealth Design LLC grew its position in Elevance Health by 431.8% during the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after buying an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc increased its stake in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.5%

ELV stock opened at $372.80 on Friday. The firm has a 50-day moving average price of $338.20 and a 200-day moving average price of $328.63. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $82.85 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.51.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings cut shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the company an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price target (down previously from $332.00) on shares of Elevance Health in a report on Friday, December 19th. Finally, Mizuho set a $413.00 price target on shares of Elevance Health in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $400.85.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.