Apollon Wealth Management LLC Sells 311 Shares of Elevance Health, Inc. (NYSE:ELV)

Apollon Wealth Management LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,474 shares of the company’s stock after selling 311 shares during the quarter. Apollon Wealth Management LLC’s holdings in Elevance Health were worth $1,807,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Bank & Trust Co purchased a new position in Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC purchased a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the 2nd quarter valued at $30,000. Finally, Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 completion of the transaction, the executive vice president now owns 8,423 shares in the company, 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 is accessible through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ELV shares. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Price Performance

NYSE:ELV opened at $410.89 on Thursday. The stock has a market cap of $95.29 billion, a PE ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. The business’s 50-day simple moving average is $483.60 and its two-hundred day simple moving average is $516.04. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for 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 company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.99 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.59%. Elevance Health’s dividend payout ratio is currently 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.