OLD Point Trust & Financial Services N A Buys 140 Shares of Elevance Health, Inc. $ELV

OLD Point Trust & Financial Services N A raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,707 shares of the company’s stock after purchasing an additional 140 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Elevance Health were worth $664,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Private Wealth Management Group LLC lifted its stake in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC bought a new position in shares of Elevance Health in the 1st quarter worth approximately $29,000. North Capital Inc. bought a new position in shares of Elevance Health in the 1st quarter worth approximately $36,000. Saudi Central Bank bought a new position in shares of Elevance Health in the 1st quarter worth approximately $40,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health in the 1st quarter worth approximately $43,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELV. Robert W. Baird lowered their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group lowered their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Mizuho increased their price objective on shares of Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $398.94.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Elevance Health Price Performance

NYSE ELV opened at $344.88 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company’s 50 day moving average is $325.40 and its two-hundred day moving average is $354.52. The stock has a market cap of $77.66 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.31%. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the firm posted $8.37 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

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.