Elevance Health, Inc. (NYSE:ELV) Shares Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 15.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,028 shares of the company’s stock after purchasing an additional 941 shares during the period. OneDigital Investment Advisors LLC’s holdings in Elevance Health were worth $3,655,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank & Trust Co purchased a new stake in Elevance Health in the 2nd quarter worth approximately $27,000. PSI Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health in the 2nd quarter worth approximately $30,000. Finally, Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 1.5 %

NYSE ELV opened at $400.78 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $92.95 billion, a P/E ratio of 14.61, a PEG ratio of 1.22 and a beta of 0.85. The firm’s 50-day moving average is $478.13 and its two-hundred day moving average is $514.55. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during 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%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $8.99 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 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 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. 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 research report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Truist Financial reaffirmed a “buy” rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

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.