Elevance Health, Inc. (NYSE:ELV) Shares Purchased by TCI Wealth Advisors Inc.
by Mitch Edgeman · The Markets DailyTCI Wealth Advisors Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 506 shares of the company’s stock after purchasing an additional 27 shares during the period. TCI Wealth Advisors Inc.’s holdings in Elevance Health were worth $263,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Concord Wealth Partners boosted its position in Elevance Health by 9.3% during the 3rd quarter. Concord Wealth Partners now owns 2,445 shares of the company’s stock worth $1,271,000 after purchasing an additional 208 shares during the period. Asahi Life Asset Management CO. LTD. boosted its position in shares of Elevance Health by 4.0% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 1,045 shares of the company’s stock worth $543,000 after buying an additional 40 shares during the period. Smithbridge Asset Management Inc. DE boosted its position in shares of Elevance Health by 84.0% in the third quarter. Smithbridge Asset Management Inc. DE now owns 2,819 shares of the company’s stock worth $1,466,000 after buying an additional 1,287 shares during the period. Insight Folios Inc grew its stake in shares of Elevance Health by 6.6% in the third quarter. Insight Folios Inc now owns 730 shares of the company’s stock valued at $380,000 after buying an additional 45 shares in the last quarter. Finally, Canoe Financial LP raised its holdings in shares of Elevance Health by 2.7% during the 3rd quarter. Canoe Financial LP now owns 341,724 shares of the company’s stock valued at $179,046,000 after buying an additional 9,024 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.
Elevance Health Stock Down 1.9 %
Shares of NYSE:ELV opened at $417.35 on Tuesday. The company’s fifty day moving average is $512.62 and its two-hundred day moving average is $524.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a market capitalization of $97.00 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.
Elevance Health (NYSE:ELV – Get Free Report) 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). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the company earned $8.99 EPS. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.
Elevance Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s payout ratio is currently 24.64%.
Insider Buying and Selling
In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
ELV has been the subject of a number of analyst reports. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $551.07.
Elevance Health 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.
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