HF Advisory Group LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

HF Advisory Group LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 12.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,731 shares of the company’s stock after buying an additional 415 shares during the quarter. HF Advisory Group LLC’s holdings in Elevance Health were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Crestwood Advisors Group LLC purchased a new stake in Elevance Health in the 3rd quarter worth about $274,000. River Road Asset Management LLC boosted its position in Elevance Health by 9.8% during the third quarter. River Road Asset Management LLC now owns 105,341 shares of the company’s stock worth $54,777,000 after purchasing an additional 9,400 shares during the period. Amalgamated Bank boosted its position in Elevance Health by 1.3% during the third quarter. Amalgamated Bank now owns 47,993 shares of the company’s stock worth $24,956,000 after purchasing an additional 623 shares during the period. Sentry Investment Management LLC increased its stake in shares of Elevance Health by 8.7% in the third quarter. Sentry Investment Management LLC now owns 1,111 shares of the company’s stock worth $578,000 after purchasing an additional 89 shares in the last quarter. Finally, ASB Consultores LLC raised its position in shares of Elevance Health by 37.3% in the third quarter. ASB Consultores LLC now owns 765 shares of the company’s stock valued at $398,000 after purchasing an additional 208 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada cut 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 reaffirmed a “buy” rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

ELV stock opened at $417.77 on Wednesday. The firm has a 50 day simple moving average of $496.81 and a two-hundred day simple moving average of $519.96. The stock has a market cap of $96.89 billion, a PE ratio of 15.23, a P/E/G ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the firm posted $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio is 23.77%.

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.