Keystone Financial Services Raises Stock Position in Elevance Health, Inc. $ELV

Keystone Financial Services boosted its position in Elevance Health, Inc. (NYSE:ELV) by 17.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Keystone Financial Services’ holdings in Elevance Health were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in ELV. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new position in Elevance Health in the 1st quarter worth approximately $29,000. Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter valued at $40,000. Berbice Capital Management LLC purchased a new position in Elevance Health in the first quarter worth $43,000. Finally, Glass Jacobson Investment Advisors llc increased its stake 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 during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ELV shares. Mizuho cut their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Robert W. Baird lowered their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Finally, Leerink Partners restated a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $397.33.

Insider Buying and Selling

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

Elevance Health Price Performance

Shares of ELV stock opened at $317.51 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $70.56 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.23 and a beta of 0.60. The business’s 50 day moving average price is $329.41 and its 200-day moving average price is $345.36.

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

Elevance Health Dividend Announcement

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

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.