Keystone Financial Services Acquires 260 Shares of Elevance Health, Inc. $ELV

Keystone Financial Services raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 17.6% in the second quarter, Holdings Channel.com reports. The firm owned 1,739 shares of the company’s stock after purchasing an additional 260 shares during the period. Keystone Financial Services’ holdings in Elevance Health were worth $676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC bought a new stake in Elevance Health in the first quarter worth $230,000. Stratos Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter worth about $220,000. Personal CFO Solutions LLC bought a new position in Elevance Health in the 1st quarter worth about $217,000. Linden Thomas Advisory Services LLC grew its position in Elevance Health by 4.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 1,587 shares of the company’s stock valued at $690,000 after purchasing an additional 71 shares during the last quarter. Finally, LBP AM SA bought a new stake in Elevance Health during the 1st quarter valued at about $1,267,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Barclays lowered their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Argus reissued a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Morgan Stanley increased their price objective on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $397.33.

Elevance Health Stock Up 1.0%

Elevance Health stock opened at $317.51 on Friday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock has a fifty day moving average of $329.41 and a 200 day moving average of $345.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $70.56 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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 return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same period in the previous year, the company posted $8.37 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced 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 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is currently 27.96%.

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.