Intelligence Driven Advisers LLC Buys 71 Shares of Elevance Health, Inc. (NYSE:ELV)

Intelligence Driven Advisers LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,179 shares of the company’s stock after purchasing an additional 71 shares during the period. Intelligence Driven Advisers LLC’s holdings in Elevance Health were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ELV. Bank & Trust Co purchased a new position in Elevance Health during the 2nd quarter valued at about $27,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health during the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $30,000. Finally, Eastern Bank bought a new stake in Elevance Health in the third quarter worth $31,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE ELV traded up $2.37 on Thursday, hitting $413.26. 53,715 shares of the company traded hands, compared to its average volume of 1,150,483. 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 business’s 50 day moving average price is $480.88 and its 200-day moving average price is $515.30. The company has a market capitalization of $95.84 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm posted $8.99 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ELV shares. Barclays reduced their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Finally, Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

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.