Farther Finance Advisors LLC Acquires 317 Shares of Elevance Health, Inc. (NYSE:ELV)

Farther Finance Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,523 shares of the company’s stock after acquiring an additional 317 shares during the period. Farther Finance Advisors LLC’s holdings in Elevance Health were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in Elevance Health during the 2nd quarter worth $27,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the 2nd quarter worth $30,000. Finally, Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth $31,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, UBS Group reduced their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $544.53.

Elevance Health Stock Performance

Shares of ELV stock opened at $417.86 on Tuesday. The business’s 50-day moving average price is $499.42 and its 200-day moving average price is $520.76. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The firm has a market capitalization of $96.91 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.21 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 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 firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The company 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Company 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.