Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Carrera Capital Advisors

by · The Cerbat Gem

Carrera Capital Advisors boosted its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 13.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,316 shares of the company’s stock after purchasing an additional 528 shares during the period. Carrera Capital Advisors’ holdings in Elevance Health were worth $2,244,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Elevance Health in the second quarter worth $27,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the third quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the second quarter worth $28,000. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the second quarter worth $30,000. Finally, Eastern Bank acquired a new position in shares of Elevance Health in the third quarter worth $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV traded down $10.76 during mid-day trading on Tuesday, reaching $414.63. 721,733 shares of the company’s stock were exchanged, compared to its average volume of 1,148,161. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $486.59 and a two-hundred day simple moving average of $516.91. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a market cap of $96.16 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.26 and a beta of 0.85.

Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.99 earnings per share. On average, sell-side analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ELV. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Get Our Latest Stock Analysis on ELV

About Elevance Health

(Free Report)

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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