Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,965 shares of the company’s stock after purchasing an additional 8,379 shares during the period. Empowered Funds LLC’s holdings in Elevance Health were worth $21,822,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ELV. Empirical Finance LLC lifted its position in shares of Elevance Health by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 9,327 shares of the company’s stock valued at $4,850,000 after acquiring an additional 180 shares during the last quarter. First Business Financial Services Inc. increased its holdings in Elevance Health by 6.0% in the third quarter. First Business Financial Services Inc. now owns 2,635 shares of the company’s stock worth $1,370,000 after buying an additional 150 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Elevance Health by 8.1% in the third quarter. CIBC Asset Management Inc now owns 34,012 shares of the company’s stock worth $17,686,000 after purchasing an additional 2,541 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Elevance Health by 6.0% in the third quarter. Impax Asset Management Group plc now owns 25,305 shares of the company’s stock valued at $13,159,000 after acquiring an additional 1,435 shares during the period. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Elevance Health by 15.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,028 shares of the company’s stock worth $3,655,000 after purchasing an additional 941 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.2 %

Shares of ELV stock opened at $407.95 on Friday. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $94.61 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.22 and a beta of 0.85. The firm’s 50-day moving average is $480.88 and its 200-day moving average is $515.30.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. 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 1.60%. Elevance Health’s payout ratio is 23.77%.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Cantor Fitzgerald dropped their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Wells Fargo & Company cut their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Truist Financial reissued a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. UBS Group dropped their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

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.