Commonwealth Equity Services LLC Buys 2,042 Shares of Elevance Health, Inc. (NYSE:ELV)

Commonwealth Equity Services LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,011 shares of the company’s stock after acquiring an additional 2,042 shares during the period. Commonwealth Equity Services LLC’s holdings in Elevance Health were worth $23,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. HF Advisory Group LLC increased its stake in Elevance Health by 1.1% during the 2nd quarter. HF Advisory Group LLC now owns 1,857 shares of the company’s stock worth $825,000 after acquiring an additional 21 shares during the period. Roundview Capital LLC boosted its holdings in shares of Elevance Health by 1.2% in the 1st quarter. Roundview Capital LLC now owns 1,916 shares of the company’s stock valued at $881,000 after purchasing an additional 23 shares in the last quarter. Intelligence Driven Advisers LLC boosted its holdings in shares of Elevance Health by 4.9% in the 1st quarter. Intelligence Driven Advisers LLC now owns 494 shares of the company’s stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. Key Financial Inc boosted its holdings in shares of Elevance Health by 22.6% in the 2nd quarter. Key Financial Inc now owns 130 shares of the company’s stock valued at $58,000 after purchasing an additional 24 shares in the last quarter. Finally, Mitchell Capital Management Co. boosted its holdings in shares of Elevance Health by 0.3% in the 2nd quarter. Mitchell Capital Management Co. now owns 7,185 shares of the company’s stock valued at $3,192,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 87.80% of the company’s stock.

Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 64 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $454.35, for a total value of $29,078.40. Following the completion of the sale, the chief accounting officer now directly owns 2,842 shares of the company’s stock, valued at approximately $1,291,262.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Elevance Health in a report on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Morgan Stanley raised their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 target price on shares of Elevance Health in a report on Thursday, October 19th. JPMorgan Chase & Co. cut their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday. Finally, TD Cowen raised their price objective on Elevance Health from $564.00 to $585.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $565.82.

Get Our Latest Analysis on Elevance Health

Elevance Health Stock Up 0.5 %

Shares of NYSE:ELV opened at $465.37 on Tuesday. The firm has a market cap of $109.34 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $544.01. The business has a fifty day simple moving average of $451.18 and a 200 day simple moving average of $453.67.

Elevance Health (NYSE:ELVGet Free Report) last announced its earnings results on Wednesday, October 18th. The company reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.45 by $0.54. Elevance Health had a return on equity of 20.71% and a net margin of 3.61%. The business had revenue of $42.48 billion during the quarter, compared to analyst estimates of $42.69 billion. During the same period last year, the company earned $7.53 EPS. Elevance Health’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 33.07 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.24%.

Elevance Health Company Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

Further Reading

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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