Hutchinson Financial Advisors INC Buys Shares of 3,746 Elevance Health, Inc. $ELV

Hutchinson Financial Advisors INC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,746 shares of the company’s stock, valued at approximately $1,457,000. Elevance Health comprises approximately 0.6% of Hutchinson Financial Advisors INC’s holdings, making the stock its 29th biggest holding.

Other hedge funds have also made changes to their positions in the company. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $29,000. North Capital Inc. acquired a new stake in Elevance Health in the first quarter valued at approximately $36,000. Glass Jacobson Investment Advisors llc raised its holdings in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in Elevance Health in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Morgan Stanley lifted their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $398.44.

Elevance Health Trading Down 1.5%

NYSE:ELV opened at $317.05 on Friday. The company has a market capitalization of $70.46 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a fifty day simple moving average of $329.07 and a 200-day simple moving average of $349.16.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is currently 27.96%.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

About Elevance Health

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.