Vise Technologies Inc. purchased a new stake in Elevance Health, Inc. (NYSE:ELV – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,564 shares of the company’s stock, valued at approximately $4,496,000.
A number of other institutional investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $2,086,000. Stoneridge Investment Partners LLC bought a new stake in shares of Elevance Health in the second quarter worth $970,000. State Street Corp boosted its holdings in Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after purchasing an additional 137,914 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Elevance Health by 27.1% during the third quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock worth $4,598,000 after purchasing an additional 2,518 shares during the last quarter. Finally, State of Wyoming bought a new position in Elevance Health in the second quarter valued at $1,765,000. 89.24% of the stock is currently owned by institutional investors.
Insider Activity at Elevance Health
In other news, CFO Mark Kaye sold 10,584 shares of Elevance Health stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 19,919 shares in the company, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.
Wall Street Analysts Forecast Growth
ELV has been the topic of several recent research reports. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Truist Financial increased their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their price objective on shares of Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Barclays raised their price objective on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Finally, Cantor Fitzgerald lifted their target price on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $456.48.
View Our Latest Stock Analysis on Elevance Health
Elevance Health Trading Down 0.1%
Shares of NYSE:ELV opened at $413.11 on Wednesday. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $450.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $89.26 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The company has a 50-day simple moving average of $411.08 and a 200 day simple moving average of $372.73.
Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.03 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 29.18 earnings per share for the current year.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is presently 29.34%.
Elevance Health Company Profile
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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