VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 11.3% in the third quarter, Holdings Channel.com reports. The firm owned 94,320 shares of the company’s stock after purchasing an additional 9,560 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Elevance Health were worth $36,674,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Elevance Health by 146.2% in the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after buying an additional 38 shares during the last quarter. WealthCollab LLC raised its stake in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Kilter Group LLC purchased a new position in Elevance Health during the second quarter valued at $28,000. Main Street Group LTD bought a new stake in Elevance Health in the first quarter worth $39,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the last quarter. 89.24% of the stock is owned by institutional investors.
Insider Buying and Selling at Elevance Health
In other news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by insiders.
Elevance Health Stock Performance
Shares of ELV stock opened at $419.67 on Friday. The company has a 50 day moving average price of $410.62 and a 200-day moving average price of $372.32. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $450.69. The firm has a market capitalization of $90.67 billion, a PE ratio of 17.90, a P/E/G ratio of 2.02 and a beta of 0.70. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same quarter in the prior year, the firm earned $6.03 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 29.13 earnings per share for the current year.
Elevance Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. Elevance Health’s payout ratio is currently 29.34%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ELV shares. Royal Bank Of Canada raised their price target on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a report on Thursday, October 22nd. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research report on Tuesday, July 7th. Barclays increased their price objective on shares of Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Wells Fargo & Company lifted their target price on shares of Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $451.00 target price on shares of Elevance Health in a research note on Friday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $456.48.
Read Our Latest Analysis on ELV
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.
Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.
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