EP Wealth Advisors LLC Has $1.06 Million Stake in Elevance Health, Inc. (NYSE:ELV)

EP Wealth Advisors LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,042 shares of the company’s stock after buying an additional 160 shares during the quarter. EP Wealth Advisors LLC’s holdings in Elevance Health were worth $1,062,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ELV. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at $27,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health in the second quarter worth $30,000. Eastern Bank acquired a new position in Elevance Health in the third quarter worth $31,000. Peterson Financial Group Inc. acquired a new position in Elevance Health in the third quarter worth $44,000. Finally, Hexagon Capital Partners LLC boosted its stake in Elevance Health by 46.2% in the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ELV. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Cantor Fitzgerald reduced their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Barclays dropped their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. One 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 company’s stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Down 1.4 %

NYSE:ELV opened at $389.98 on Wednesday. Elevance Health, Inc. has a 1-year low of $379.29 and a 1-year high of $567.26. The business’s 50-day moving average price is $431.73 and its two-hundred day moving average price is $497.93. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $90.44 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.14 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the company posted $8.99 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was 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 owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Elevance Health 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.