Signal Advisors Wealth LLC Has $2.08 Million Stock Position in Elevance Health, Inc. $ELV

Signal Advisors Wealth LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 147.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,429 shares of the company’s stock after buying an additional 3,830 shares during the period. Signal Advisors Wealth LLC’s holdings in Elevance Health were worth $2,077,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. WPG Advisers LLC acquired a new position in Elevance Health in the first quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health in the 2nd quarter valued at approximately $32,000. Saudi Central Bank acquired a new position in shares of Elevance Health in the 1st quarter valued at approximately $40,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $340.27 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company’s fifty day simple moving average is $334.55 and its 200-day simple moving average is $331.31. The firm has a market cap of $75.62 billion, a PE ratio of 13.91, a P/E/G ratio of 1.59 and a beta of 0.52. 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 released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share 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 16.17%. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the firm earned $8.37 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial set a $400.00 price target on shares of Elevance Health in a research note on Tuesday, October 14th. TD Cowen raised their price objective on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Finally, Mizuho dropped their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $396.21.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.