Global Retirement Partners LLC Acquires 338 Shares of Elevance Health, Inc. (NYSE:ELV)

Global Retirement Partners LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,189 shares of the company’s stock after buying an additional 338 shares during the period. Global Retirement Partners LLC’s holdings in Elevance Health were worth $2,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. New Mexico Educational Retirement Board raised its holdings in Elevance Health by 14.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Blair William & Co. IL boosted its position in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after acquiring an additional 6,610 shares in the last quarter. AMI Investment Management Inc. purchased a new position in shares of Elevance Health during the 3rd quarter worth approximately $1,294,000. Artemis Investment Management LLP raised its position in shares of Elevance Health by 16.1% in the 1st quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after acquiring an additional 11,627 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Elevance Health in the 2nd quarter valued at approximately $5,837,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ELV. TD Cowen lowered their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday. Truist Financial reissued a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $572.27.

Insider Activity

In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,170 shares of company stock worth $20,638,737 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 3.1 %

NYSE:ELV opened at $430.76 on Friday. The firm has a market capitalization of $100.12 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day moving average price of $526.74 and a 200-day moving average price of $527.46. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $8.99 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

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.