Hutchinson Financial Advisors INC Takes $1.46 Million Position in Elevance Health, Inc. $ELV

Hutchinson Financial Advisors INC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,746 shares of the company’s stock, valued at approximately $1,457,000. Elevance Health makes up about 0.6% of Hutchinson Financial Advisors INC’s investment portfolio, making the stock its 29th largest position.

Several other large investors also recently made changes to their positions in ELV. Nuveen LLC bought a new position in shares of Elevance Health during the 1st quarter valued at about $789,943,000. Orbis Allan Gray Ltd raised its holdings in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the period. Vanguard Group Inc. raised its holdings in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares during the period. Boston Partners lifted its position in shares of Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after purchasing an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 1.5%

ELV stock opened at $317.05 on Friday. The stock’s 50 day moving average is $329.07 and its 200-day moving average is $349.16. The firm has a market capitalization of $70.46 billion, a PE ratio of 12.96, a P/E/G ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the previous year, the business earned $8.37 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several equities analysts have commented on ELV shares. Leerink Partners reiterated a “market perform” rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Morgan Stanley boosted their target price on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Thursday, October 23rd. Finally, Mizuho boosted their target price on Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $398.44.

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.